Carvana (NYSE:CVNA) Insider Thomas Taira Sells 5,596 Shares of Company Stock

Carvana Co. (NYSE:CVNA) insider Thomas Taira sold 5,596 shares of the firm’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $75.74, for a total transaction of $423,841.04. Following the completion of the sale, the insider owned 347,897 shares of the company’s stock, valued at $26,349,718.78. This trade represents a 1.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Thomas Taira also recently made the following trade(s):

• On Monday, October 12th, Thomas Taira sold 5,597 shares of Carvana stock. The stock was sold at an average price of $65.00, for a total transaction of $363,805.00.
• On Monday, September 14th, Thomas Taira sold 16,789 shares of Carvana stock. The shares were sold at an average price of $70.58, for a total value of $1,184,967.62.

Carvana Trading Down 4.1%

CVNA traded down $3.00 during trading hours on Thursday, reaching $70.86. 5,578,875 shares of the company’s stock traded hands, compared to its average volume of 13,003,815. The firm has a 50-day moving average price of $65.81 and a 200 day moving average price of $68.58. The firm has a market capitalization of $78.18 billion, a PE ratio of 35.57, a PEG ratio of 1.87 and a beta of 3.66. The company has a quick ratio of 2.43, a current ratio of 4.05 and a debt-to-equity ratio of 0.86. Carvana Co. has a 52-week low of $54.46 and a 52-week high of $97.38.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.05). Carvana had a return on equity of 34.77% and a net margin of 6.21%. The company had revenue of $8.04 billion during the quarter, compared to analysts’ expectations of $7.71 billion. During the same period in the prior year, the business earned $1.03 EPS. The company’s quarterly revenue was up 42.4% on a year-over-year basis. As a group, sell-side analysts predict that Carvana Co. will post 1.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVNA. Hovde Group raised their target price on shares of Carvana from $39.50 to $48.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 4th. Robert W. Baird set a $72.00 price objective on Carvana in a report on Thursday, July 30th. Royal Bank Of Canada set a $82.00 target price on Carvana and gave the company an “outperform” rating in a research report on Thursday, July 30th. BNP Paribas Exane lowered their target price on Carvana from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, October 29th. Finally, Deutsche Bank reiterated a “buy” rating and issued a $85.00 target price on shares of Carvana in a report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Carvana presently has an average rating of “Moderate Buy” and a consensus target price of $82.09.

Institutional Investors Weigh In On Carvana

Several hedge funds have recently modified their holdings of the business. Ascentis Independent Advisors bought a new position in Carvana in the first quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Carvana by 152.6% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after buying an additional 58 shares during the period. Provenance Wealth Advisors LLC purchased a new stake in Carvana during the third quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. boosted its position in Carvana by 115.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 445 shares of the company’s stock valued at $28,000 after acquiring an additional 238 shares in the last quarter. Finally, Transamerica Financial Advisors LLC boosted its position in Carvana by 558.0% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company’s stock valued at $30,000 after acquiring an additional 385 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

Carvana Co. operates an online platform for buying and selling used cars. Customers can browse vehicle listings, arrange financing, value a trade-in, and complete much of the purchase process online. The company also offers vehicle delivery or pickup, including at some locations with its distinctive car vending machines. Founded in 2012, Carvana has expanded its operations across the United States. Its services and vehicle availability vary by market, and the company supports its online marketplace with inspection, reconditioning, and logistics operations.