Carvana (NYSE:CVNA) Trading Down 6.3% on Insider Selling

Carvana Co. (NYSE:CVNA) shares fell 6.3% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $209.55 and last traded at $207.79. 1,507,937 shares were traded during trading, a decline of 67% from the average session volume of 4,540,763 shares. The stock had previously closed at $221.66.

Specifically, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.35, for a total transaction of $10,517,500.00. Following the completion of the transaction, the chief operating officer now directly owns 146,278 shares in the company, valued at $30,769,577.30. The trade was a 25.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas Taira sold 27,593 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the completion of the sale, the insider now owns 179,673 shares in the company, valued at $40,431,815.19. This trade represents a 13.31 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

CVNA has been the topic of several recent analyst reports. Robert W. Baird raised their price target on Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. lowered their target price on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $340.00 price target on shares of Carvana in a research note on Friday, March 7th. Wedbush set a $250.00 target price on shares of Carvana and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, Bank of America reduced their target price on Carvana from $270.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Carvana has an average rating of “Moderate Buy” and a consensus target price of $261.53.

Carvana Stock Up 0.2 %

The company has a market capitalization of $43.57 billion, a P/E ratio of 130.19 and a beta of 3.56. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The company has a 50 day moving average of $227.77 and a 200-day moving average of $216.41.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.27. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. As a group, equities analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CVNA. Fidelis Capital Partners LLC raised its stake in Carvana by 3.4% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after buying an additional 51 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Carvana by 2.8% in the 4th quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock valued at $483,000 after purchasing an additional 65 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Carvana by 21.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock valued at $87,000 after purchasing an additional 74 shares in the last quarter. Great Lakes Advisors LLC grew its stake in Carvana by 2.1% in the fourth quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock worth $752,000 after purchasing an additional 77 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after purchasing an additional 78 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

About Carvana

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.