Insider Selling: Carvana (NYSE:CVNA) Insider Sells 5,597 Shares of Stock

Carvana Co. (NYSE:CVNA) insider Thomas Taira sold 5,597 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $67.15, for a total value of $375,838.55. Following the completion of the transaction, the insider directly owned 315,075 shares in the company, valued at approximately $21,157,286.25. This represents a 1.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 8th, Thomas Taira sold 5,590 shares of Carvana stock. The shares were sold at an average price of $79.97, for a total value of $447,032.30.
• On Wednesday, April 8th, Thomas Taira sold 18,850 shares of Carvana stock. The stock was sold at an average price of $68.20, for a total transaction of $1,285,570.00.

Carvana Trading Up 0.3%

CVNA stock traded up $0.23 during midday trading on Tuesday, reaching $69.68. The stock had a trading volume of 8,179,926 shares, compared to its average volume of 16,223,426. The company has a quick ratio of 2.57, a current ratio of 4.09 and a debt-to-equity ratio of 1.05. Carvana Co. has a twelve month low of $54.46 and a twelve month high of $97.38. The firm has a market cap of $76.43 billion, a price-to-earnings ratio of 42.39, a PEG ratio of 11.23 and a beta of 3.45. The business has a fifty day simple moving average of $70.84 and a two-hundred day simple moving average of $75.17.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The company had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.12 billion. As a group, research analysts expect that Carvana Co. will post 1.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Carvana

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Carvana in the 4th quarter worth $29,000. Farmers & Merchants Investments Inc. acquired a new position in Carvana in the 4th quarter worth $29,000. Motiv8 Investments LLC acquired a new position in Carvana in the 4th quarter worth $33,000. Ascentis Independent Advisors bought a new position in shares of Carvana during the 1st quarter worth approximately $26,000. Finally, Salomon & Ludwin LLC lifted its position in shares of Carvana by 112.5% in the fourth quarter. Salomon & Ludwin LLC now owns 85 shares of the company’s stock worth $37,000 after purchasing an additional 45 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVNA. Jefferies Financial Group cut their price target on Carvana from $97.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Argus dropped their price objective on Carvana from $500.00 to $100.00 in a report on Monday, May 11th. JPMorgan Chase & Co. increased their target price on Carvana from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. BTIG Research reissued a “buy” rating and issued a $97.00 target price on shares of Carvana in a research note on Friday. Finally, Robert W. Baird set a $88.00 target price on Carvana in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $93.14.

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.