Carvana (NYSE:CVNA) Shares Down 10.2% - Time to Sell?

Carvana Co. (NYSE:CVNA - Get Free Report)'s stock price fell 10.2% during trading on Tuesday . The company traded as low as $201.26 and last traded at $197.06. 1,137,363 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 4,016,196 shares. The stock had previously closed at $219.45.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Stephens restated an "overweight" rating and issued a $300.00 price objective on shares of Carvana in a report on Monday, March 3rd. Bank of America upped their target price on shares of Carvana from $252.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Needham & Company LLC reissued a "buy" rating and set a $340.00 target price on shares of Carvana in a research report on Friday. JMP Securities reissued a "market outperform" rating and issued a $320.00 target price on shares of Carvana in a report on Monday, December 16th. Finally, Wedbush set a $250.00 price objective on shares of Carvana and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Carvana currently has a consensus rating of "Moderate Buy" and an average target price of $265.94.

Carvana Trading Up 0.7 %

The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The stock has a market cap of $40.11 billion, a price-to-earnings ratio of 119.86 and a beta of 3.56. The company has a fifty day simple moving average of $231.41 and a 200-day simple moving average of $213.67.

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Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. On average, research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other news, insider Ryan S. Keeton sold 24,845 shares of the firm's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the transaction, the insider now owns 151,029 shares in the company, valued at approximately $37,440,089.10. This trade represents a 14.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ira J. Platt sold 25,000 shares of the firm's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $244.30, for a total transaction of $6,107,500.00. Following the transaction, the director now owns 5,227 shares in the company, valued at $1,276,956.10. This represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,629 shares of company stock valued at $30,866,419 in the last quarter. Company insiders own 17.18% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CVNA. Eagle Asset Management Inc. bought a new position in Carvana in the 3rd quarter worth $50,531,000. Plato Investment Management Ltd raised its holdings in Carvana by 135.5% in the 4th quarter. Plato Investment Management Ltd now owns 5,204 shares of the company's stock worth $1,062,000 after acquiring an additional 2,994 shares during the period. Oak Thistle LLC raised its holdings in Carvana by 115.9% in the 4th quarter. Oak Thistle LLC now owns 3,238 shares of the company's stock worth $658,000 after acquiring an additional 1,738 shares during the period. Bank of New York Mellon Corp raised its holdings in Carvana by 37.7% in the 4th quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company's stock worth $97,305,000 after acquiring an additional 130,942 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Carvana by 33.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company's stock worth $77,807,000 after acquiring an additional 95,497 shares during the period. Institutional investors own 56.71% of the company's stock.

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.