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

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CVNA shares. Royal Bank of Canada increased their target price on Carvana from $280.00 to $320.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Wells Fargo & Company cut their target price on Carvana from $300.00 to $275.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. increased their target price on Carvana from $350.00 to $365.00 and gave the stock an "overweight" rating in a research report on Friday. Needham & Company LLC reaffirmed a "buy" rating and issued a $340.00 target price on shares of Carvana in a research report on Friday. Finally, DA Davidson increased their price target on Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $265.94.

Carvana Stock Up 0.7 %

The firm has a 50 day moving average price of $231.41 and a two-hundred day moving average price of $213.28. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The company has a market capitalization of $40.11 billion, a price-to-earnings ratio of 119.86 and a beta of 3.56.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. As a group, sell-side analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Transactions at Carvana

In other news, Director Ira J. Platt sold 25,000 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $1,276,956.10. This trade represents a 82.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ryan S. Keeton sold 24,845 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the transaction, the insider now directly owns 151,029 shares in the company, valued at $37,440,089.10. The trade was a 14.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,629 shares of company stock valued at $30,866,419. Insiders own 17.18% of the company's stock.

Hedge Funds Weigh In On Carvana

A number of large investors have recently bought and sold shares of CVNA. Quent Capital LLC bought a new position in Carvana in the fourth quarter worth about $28,000. Global Retirement Partners LLC lifted its holdings in Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after acquiring an additional 78 shares during the last quarter. Rialto Wealth Management LLC bought a new position in Carvana in the fourth quarter worth about $31,000. ORG Wealth Partners LLC bought a new position in Carvana in the fourth quarter worth about $34,000. Finally, Capital Performance Advisors LLP bought a new position in Carvana in the third quarter worth about $40,000. 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.