Insider Selling: Carvana (NYSE:CVNA) Insider Sells 10,000 Shares of Stock

by · The Cerbat Gem

Carvana Co. (NYSE:CVNA – Get Free Report) insider Thomas Taira sold 10,000 shares of Carvana stock in a transaction on Friday, November 28th. The shares were sold at an average price of $375.01, for a total value of $3,750,100.00. Following the transaction, the insider owned 106,507 shares of the company’s stock, valued at $39,941,190.07. The trade was a 8.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Thomas Taira also recently made the following trade(s):

  • On Monday, November 10th, Thomas Taira sold 952 shares of Carvana stock. The stock was sold at an average price of $325.00, for a total value of $309,400.00.

Carvana Stock Up 1.9%

Shares of CVNA traded up $7.31 during trading hours on Tuesday, hitting $382.57. The company had a trading volume of 2,870,243 shares, compared to its average volume of 2,909,360. The stock has a market capitalization of $83.22 billion, a price-to-earnings ratio of 85.68, a P/E/G ratio of 1.36 and a beta of 3.51. The firm has a fifty day moving average price of $344.86 and a 200-day moving average price of $343.41. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $413.33. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05.

Carvana (NYSE:CVNA – Get Free Report) last issued its earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.26). The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.The firm’s quarterly revenue was up 54.5% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. On average, equities research analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Hilltop National Bank purchased a new position in Carvana during the second quarter valued at $25,000. Brooklyn Investment Group lifted its holdings in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after purchasing an additional 125 shares in the last quarter. ORG Partners LLC raised its stake in Carvana by 8,700.0% during the 3rd quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after purchasing an additional 87 shares during the period. SJS Investment Consulting Inc. grew its holdings in Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 96 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in Carvana in the 3rd quarter worth approximately $38,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVNA. Evercore ISI cut their target price on Carvana from $425.00 to $395.00 and set an “in-line” rating on the stock in a research note on Thursday, October 30th. Wedbush upgraded Carvana from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $380.00 to $400.00 in a report on Monday, November 24th. UBS Group started coverage on shares of Carvana in a research note on Monday. They set a “buy” rating and a $450.00 target price on the stock. Zacks Research downgraded shares of Carvana from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Carvana in a report on Monday. Eighteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $422.10.

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About Carvana

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Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.

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