Carvana (NYSE:CVNA) Director Sells 14,520 Shares of Company Stock

Carvana Co. (NYSE:CVNA) Director J Quayle sold 14,520 shares of the stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $68.88, for a total transaction of $1,000,137.60. Following the sale, the director directly owned 214,960 shares of the company’s stock, valued at $14,806,444.80. The trade was a 6.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

J Danforth Quayle also recently made the following trade(s):

• On Friday, August 14th, J Quayle sold 14,525 shares of Carvana stock. The stock was sold at an average price of $75.00, for a total transaction of $1,089,375.00.

Carvana Stock Down 0.9%

NYSE CVNA traded down $0.62 on Tuesday, hitting $71.38. The stock had a trading volume of 9,959,162 shares, compared to its average volume of 13,071,145. The business’s fifty day moving average price is $65.83 and its 200 day moving average price is $69.31. The stock has a market cap of $78.55 billion, a price-to-earnings ratio of 35.84, a price-to-earnings-growth ratio of 1.75 and a beta of 3.55. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. Carvana Co. has a 52-week low of $54.46 and a 52-week high of $97.38.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.05). The business had revenue of $8.04 billion for the quarter, compared to analysts’ expectations of $7.71 billion. Carvana had a net margin of 6.21% and a return on equity of 36.63%. The business’s revenue for the quarter was up 42.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 EPS. Equities research analysts anticipate that Carvana Co. will post 1.59 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on CVNA. Zacks Research downgraded Carvana from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 15th. Bank of America restated a “neutral” rating on shares of Carvana in a research note on Thursday, October 29th. Stephens restated an “overweight” rating and set a $83.00 price objective (down from $91.50) on shares of Carvana in a report on Tuesday, October 6th. Royal Bank Of Canada set a $82.00 price objective on shares of Carvana and gave the company an “outperform” rating in a research report on Thursday, July 30th. Finally, Needham & Company LLC lowered their target price on shares of Carvana from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.09.

Hedge Funds Weigh In On Carvana

Several hedge funds have recently made changes to their positions in CVNA. State Street Corp raised its stake in Carvana by 417.1% in the 2nd quarter. State Street Corp now owns 29,435,364 shares of the company’s stock worth $1,937,436,000 after acquiring an additional 23,742,422 shares during the last quarter. Spruce House Investment Management LLC lifted its position in Carvana by 2.6% during the 1st quarter. Spruce House Investment Management LLC now owns 2,335,000 shares of the company’s stock worth $734,077,000 after acquiring an additional 60,000 shares during the period. Bank of New York Mellon Corp grew its stake in Carvana by 2.4% during the 1st quarter. Bank of New York Mellon Corp now owns 710,264 shares of the company’s stock valued at $223,293,000 after purchasing an additional 16,692 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Carvana by 345.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company’s stock valued at $218,867,000 after purchasing an additional 2,579,295 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Carvana by 10.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 604,729 shares of the company’s stock valued at $190,009,000 after purchasing an additional 57,040 shares during the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Company Profile

Carvana Co (NYSE: CVNA) is an online automotive retailer that sells used vehicles through its digital platform. Customers can browse vehicles, review detailed descriptions and vehicle history information, arrange financing, complete transactions online and choose home delivery or pickup at a Carvana location.

The company also provides vehicle trade-in services and offers related products, including vehicle protection plans and other automotive services. Carvana is known for its automated, glass-enclosed vehicle vending machines, which provide an alternative pickup experience in select markets.

Founded in 2012 and headquartered in Tempe, Arizona, Carvana began operations as an online used-car retailer in 2013 and went public in 2017.