Insider Selling: Carvana (NYSE:CVNA) Director Sells 27,655 Shares of Company Stock

Carvana Co. (NYSE:CVNA) Director J Quayle sold 27,655 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $72.97, for a total transaction of $2,017,985.35. Following the completion of the sale, the director owned 187,305 shares in the company, valued at $13,667,645.85. The trade was a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, October 30th, J Quayle sold 14,520 shares of Carvana stock. The shares were sold at an average price of $68.88, for a total transaction of $1,000,137.60.
• 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 Price Performance

NYSE:CVNA traded down $3.00 during trading hours on Thursday, reaching $70.86. 5,578,875 shares of the company’s stock were exchanged, compared to its average volume of 13,003,815. The company has a quick ratio of 2.43, a current ratio of 4.05 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $78.18 billion, a P/E ratio of 35.57, a price-to-earnings-growth ratio of 1.87 and a beta of 3.66. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The business’s 50-day simple moving average is $65.87 and its two-hundred day simple moving average is $68.70.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.05). The company had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $7.71 billion. Carvana had a net margin of 6.21% and a return on equity of 34.77%. Carvana’s quarterly revenue was up 42.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 EPS. Sell-side analysts expect that Carvana Co. will post 1.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Carvana

Large investors have recently made changes to their positions in the company. Provenance Wealth Advisors LLC purchased a new stake in shares of Carvana in the 3rd quarter valued at approximately $25,000. Ascentis Independent Advisors purchased a new position in Carvana during the 1st quarter worth approximately $26,000. E Fund Management Hong Kong Co. Ltd. grew its position in Carvana by 115.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 445 shares of the company’s stock worth $28,000 after purchasing an additional 238 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its position in Carvana by 152.6% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after purchasing an additional 58 shares in the last quarter. Finally, Transamerica Financial Advisors LLC raised its stake in Carvana by 558.0% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company’s stock valued at $30,000 after purchasing an additional 385 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVNA. Royal Bank Of Canada set a $82.00 target price on Carvana and gave the stock an “outperform” rating in a report on Thursday, July 30th. Stephens reaffirmed an “overweight” rating and set a $83.00 target price (down from $91.50) on shares of Carvana in a research report on Tuesday, October 6th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Carvana in a report on Thursday, October 29th. Citizens Jmp increased their price target on Carvana from $83.00 to $85.00 and gave the company a “market outperform” rating in a research report on Friday, October 30th. Finally, BNP Paribas Exane dropped their price target on Carvana from $69.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.09.

About Carvana

Carvana Co. operates an online platform for buying and selling used cars. Customers can browse vehicle listings, arrange financing, value a trade-in, and complete much of the purchase process online. The company also offers vehicle delivery or pickup, including at some locations with its distinctive car vending machines. Founded in 2012, Carvana has expanded its operations across the United States. Its services and vehicle availability vary by market, and the company supports its online marketplace with inspection, reconditioning, and logistics operations.