Carvana (NYSE:CVNA) Insider Thomas Taira Sells 953 Shares of Stock

Carvana Co. (NYSE:CVNA) insider Thomas Taira sold 953 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $325.00, for a total value of $309,725.00. Following the completion of the sale, the insider directly owned 64,997 shares in the company, valued at $21,124,025. This trade represents a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, February 9th, Thomas Taira sold 1,047 shares of Carvana stock. The stock was sold at an average price of $398.54, for a total value of $417,271.38.
• On Thursday, January 8th, Thomas Taira sold 1,174 shares of Carvana stock. The stock was sold at an average price of $447.00, for a total transaction of $524,778.00.
• On Friday, December 12th, Thomas Taira sold 10,000 shares of Carvana stock. The shares were sold at an average price of $475.00, for a total transaction of $4,750,000.00.

Carvana Price Performance

Shares of Carvana stock traded down $3.72 during midday trading on Thursday, hitting $305.76. 219,276 shares of the company traded hands, compared to its average volume of 4,089,075. The firm’s fifty day moving average price is $392.86 and its 200-day moving average price is $379.72. The stock has a market cap of $66.92 billion, a price-to-earnings ratio of 37.85 and a beta of 3.60. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $486.89. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.73 and a current ratio of 4.31.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $4.22 EPS for the quarter, beating the consensus estimate of $1.10 by $3.12. Carvana had a net margin of 6.92% and a return on equity of 50.96%. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.24 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. The firm’s revenue was up 58.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Institutional Trading of Carvana

Several institutional investors have recently modified their holdings of CVNA. Federated Hermes Inc. increased its stake in Carvana by 124.9% in the third quarter. Federated Hermes Inc. now owns 265,921 shares of the company’s stock valued at $100,316,000 after purchasing an additional 147,683 shares in the last quarter. Hudson Bay Capital Management LP boosted its position in shares of Carvana by 158.0% during the 2nd quarter. Hudson Bay Capital Management LP now owns 16,478 shares of the company’s stock worth $5,552,000 after purchasing an additional 10,090 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Carvana by 11.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 637,462 shares of the company’s stock valued at $240,476,000 after buying an additional 64,424 shares during the period. Strs Ohio grew its stake in shares of Carvana by 89.9% in the 3rd quarter. Strs Ohio now owns 37,756 shares of the company’s stock valued at $14,243,000 after buying an additional 17,878 shares during the period. Finally, Gavilan Investment Partners LLC bought a new stake in Carvana in the 3rd quarter valued at about $26,030,000. Institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

CVNA has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price objective on Carvana from $510.00 to $490.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Stephens reaffirmed an “overweight” rating and issued a $519.00 target price on shares of Carvana in a report on Thursday, February 19th. Wells Fargo & Company dropped their target price on Carvana from $525.00 to $425.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Jefferies Financial Group cut their price target on Carvana from $550.00 to $485.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Finally, Bank of America reduced their price target on Carvana from $460.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $440.59.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.