Carvana (NYSE:CVNA) Stock Price Down 6.3% on Insider Selling

Carvana Co. (NYSE:CVNA - Get Free Report) dropped 6.3% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $209.55 and last traded at $207.79. Approximately 1,507,937 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 4,540,763 shares. The stock had previously closed at $221.66.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. William Blair reissued an "outperform" rating on shares of Carvana in a research report on Thursday, February 20th. JPMorgan Chase & Co. reduced their price target on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a research report on Thursday. DA Davidson boosted their price objective on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Stephens reissued an "overweight" rating and issued a $300.00 target price on shares of Carvana in a report on Monday, March 3rd. Finally, Morgan Stanley raised Carvana from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $260.00 to $280.00 in a report on Tuesday, March 25th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $261.53.

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Carvana Stock Performance

The company has a 50 day moving average price of $227.25 and a 200-day moving average price of $217.50. 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 cap of $43.57 billion, a P/E ratio of 130.19 and a beta of 3.56.

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

Institutional Investors Weigh In On Carvana

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Carvana by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock worth $2,323,463,000 after buying an additional 610,234 shares in the last quarter. Lingotto Investment Management LLP grew its holdings in Carvana by 1.5% during the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock worth $810,827,000 after acquiring an additional 57,215 shares during the period. Durable Capital Partners LP raised its position in Carvana by 6.3% in the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock worth $440,932,000 after acquiring an additional 129,246 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Carvana by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock valued at $381,592,000 after acquiring an additional 75,250 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Carvana by 6.1% during the 3rd quarter. State Street Corp now owns 1,877,511 shares of the company's stock valued at $326,893,000 after purchasing an additional 107,610 shares in the last quarter. Institutional investors 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.