Carvana (NYSE:CVNA) Trading Down 6.3% After Insider Selling

Shares of Carvana Co. (NYSE:CVNA) fell 6.3% on Wednesday following insider selling activity. The company traded as low as $209.55 and last traded at $207.79. 1,507,937 shares traded hands during trading, a decline of 67% from the average session volume of 4,540,763 shares. The stock had previously closed at $221.66.

Specifically, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.35, for a total transaction of $10,517,500.00. Following the completion of the sale, the chief operating officer now owns 146,278 shares of the company’s stock, valued at approximately $30,769,577.30. This trade represents a 25.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas Taira sold 27,593 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the completion of the transaction, the insider now directly owns 179,673 shares in the company, valued at approximately $40,431,815.19. The trade was a 13.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several brokerages recently commented on CVNA. Piper Sandler raised Carvana from a “neutral” rating to an “overweight” rating and set a $225.00 price target for the company in a research note on Thursday, March 20th. Evercore ISI decreased their target price on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, March 11th. Citigroup increased their price target on shares of Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. reduced their price objective on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, JMP Securities reissued a “market outperform” rating and set a $320.00 target price on shares of Carvana in a research report on Monday, December 16th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $261.53.

Carvana Price Performance

The stock has a market cap of $43.57 billion, a price-to-earnings ratio of 130.19 and a beta of 3.56. The stock has a fifty day simple moving average of $227.77 and a 200-day simple moving average of $216.41. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. As a group, equities research analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Fidelis Capital Partners LLC grew its position in Carvana by 3.4% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after buying an additional 51 shares in the last quarter. Bleakley Financial Group LLC lifted its position in shares of Carvana by 2.8% in the 4th quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock worth $483,000 after acquiring an additional 65 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Carvana by 21.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after purchasing an additional 74 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in shares of Carvana by 2.1% during the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock worth $752,000 after purchasing an additional 77 shares in the last quarter. Finally, Global Retirement Partners LLC increased its position in shares of Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Company Profile

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.