Carvana (NYSE:CVNA) Stock Price Down 18.1% on Insider Selling

Carvana Co. (NYSE:CVNA - Get Free Report) traded down 18.1% during mid-day trading on Thursday following insider selling activity. The company traded as low as $190.60 and last traded at $185.41. 2,312,933 shares were traded during trading, a decline of 41% from the average session volume of 3,923,042 shares. The stock had previously closed at $226.32.

Specifically, COO Benjamin E. Huston sold 50,000 shares of the business's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $207.32, for a total transaction of $10,366,000.00. Following the completion of the transaction, the chief operating officer now owns 128,116 shares in the company, valued at approximately $26,561,009.12. The trade was a 28.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 43,433 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $209.27, for a total transaction of $9,089,223.91. Following the completion of the sale, the chief financial officer now directly owns 214,678 shares of the company's stock, valued at $44,925,665.06. The trade was a 16.83 % decrease in their position. The disclosure for this sale can be found here.

Remove Ads

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of Carvana from $277.00 to $320.00 and gave the company a "buy" rating in a report on Friday, February 21st. Piper Sandler raised Carvana from a "neutral" rating to an "overweight" rating in a research note on Monday, March 31st. Morgan Stanley raised Carvana from an "underweight" rating to an "overweight" rating in a research report on Monday, March 31st. Bank of America cut their price objective on Carvana from $270.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Finally, Needham & Company LLC reissued a "buy" rating and set a $340.00 target price on shares of Carvana in a research note on Friday, March 7th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $258.59.

Carvana Trading Up 3.1 %

The firm has a market cap of $35.73 billion, a P/E ratio of 106.75 and a beta of 3.61. 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 business has a 50 day moving average of $223.47 and a two-hundred day moving average of $219.76.

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

Hedge Funds Weigh In On Carvana

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in Carvana by 27,368.4% during the first quarter. GAMMA Investing LLC now owns 215,352 shares of the company's stock worth $45,026,000 after acquiring an additional 214,568 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Carvana by 39.4% during the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after purchasing an additional 82 shares during the last quarter. Wellington Management Group LLP increased its position in Carvana by 4.1% during the 4th quarter. Wellington Management Group LLP now owns 36,215 shares of the company's stock worth $7,365,000 after purchasing an additional 1,430 shares in the last quarter. California State Teachers Retirement System increased its position in Carvana by 81.5% during the 4th quarter. California State Teachers Retirement System now owns 181,249 shares of the company's stock worth $36,859,000 after purchasing an additional 81,414 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Carvana by 16.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,513 shares of the company's stock valued at $511,000 after purchasing an additional 348 shares during the last quarter. 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.