Carvana Co. (NYSE:CVNA) Insider Sells $7,206,600.00 in Stock

Carvana Co. (NYSE:CVNA) insider Paul W. Breaux sold 30,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $240.22, for a total transaction of $7,206,600.00. Following the completion of the transaction, the insider now directly owns 135,025 shares in the company, valued at $32,435,705.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Carvana Trading Down 7.4 %

Shares of Carvana stock traded down $18.30 on Friday, reaching $229.01. The company had a trading volume of 5,853,414 shares, compared to its average volume of 4,834,488. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The firm has a market cap of $47.39 billion, a PE ratio of 22,901.00 and a beta of 3.44. The firm’s 50 day moving average price is $174.33 and its two-hundred day moving average price is $137.76. Carvana Co. has a 52-week low of $27.75 and a 52-week high of $259.39.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the previous year, the firm earned $0.23 EPS. The firm’s revenue for the quarter was up 31.8% compared to the same quarter last year. Sell-side analysts predict that Carvana Co. will post 0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carvana

Several hedge funds have recently bought and sold shares of the company. Driehaus Capital Management LLC lifted its holdings in Carvana by 124.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after buying an additional 323,153 shares in the last quarter. Integrated Advisors Network LLC increased its position in shares of Carvana by 89.2% during the third quarter. Integrated Advisors Network LLC now owns 53,004 shares of the company’s stock worth $9,229,000 after acquiring an additional 24,996 shares during the period. Highland Capital Management LLC acquired a new stake in shares of Carvana in the third quarter valued at $1,314,000. Legacy Capital Group California Inc. acquired a new stake in shares of Carvana in the third quarter valued at $1,248,000. Finally, Chicago Capital LLC purchased a new position in Carvana in the third quarter valued at $940,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

CVNA has been the topic of several research reports. Morgan Stanley raised their target price on Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Jefferies Financial Group raised their price objective on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Robert W. Baird upped their target price on shares of Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday. Needham & Company LLC raised their price target on shares of Carvana from $200.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company boosted their price target on shares of Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Carvana has a consensus rating of “Hold” and an average target price of $208.88.

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.