Carvana (NYSE:CVNA) Stock Price Down 6.1% Following Insider Selling

Carvana Co. (NYSE:CVNA - Get Free Report) was down 6.1% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $176.77 and last traded at $175.15. Approximately 636,863 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 3,819,001 shares. The stock had previously closed at $186.50.

Specifically, COO Benjamin E. Huston sold 50,000 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the completion of the transaction, the chief operating officer now directly owns 196,278 shares of the company's stock, valued at approximately $35,033,660.22. This represents a 20.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

Several equities analysts have recently commented on CVNA shares. Wedbush set a $250.00 price objective on shares of Carvana and gave the company a "neutral" rating in a research note on Wednesday, February 19th. JMP Securities reissued a "market outperform" rating and issued a $320.00 price target on shares of Carvana in a research note on Monday, December 16th. 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 note on Tuesday, March 11th. Needham & Company LLC reiterated a "buy" rating and set a $340.00 price target on shares of Carvana in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Carvana from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $262.71.

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Carvana Stock Up 3.2 %

The stock has a market capitalization of $40.80 billion, a P/E ratio of 121.90 and a beta of 3.56. The company's 50-day moving average price is $227.57 and its 200 day moving average price is $214.95. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly 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 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 analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Institutional Trading of Carvana

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fidelis Capital Partners LLC grew its stake in shares of Carvana by 3.4% in the 4th 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 grew its stake 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 buying an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Carvana by 21.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock worth $87,000 after buying an additional 74 shares in the last quarter. Great Lakes Advisors LLC grew its stake in shares of Carvana by 2.1% in the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company's stock worth $752,000 after buying an additional 77 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after buying an additional 78 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

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.