Carvana (NYSE:CVNA) Stock Price Down 4.5%

Carvana Co. (NYSE:CVNA) traded down 4.5% during trading on Monday . The stock traded as low as $67.61 and last traded at $68.16. 1,641,751 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 6,099,525 shares. The stock had previously closed at $71.36.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Carvana from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday. Raymond James raised shares of Carvana from an “underperform” rating to a “market perform” rating in a report on Friday, February 23rd. Royal Bank of Canada raised shares of Carvana from an “underperform” rating to a “sector perform” rating and boosted their price target for the stock from $45.00 to $90.00 in a report on Friday, March 8th. Evercore ISI cut their price target on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. Finally, Jefferies Financial Group raised shares of Carvana from an “underperform” rating to a “hold” rating and lifted their target price for the stock from $30.00 to $85.00 in a research note on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $53.87.

Carvana Stock Down 0.7 %

The stock’s 50-day simple moving average is $75.21 and its 200 day simple moving average is $52.55. The company has a market cap of $14.30 billion, a price-to-earnings ratio of 132.15 and a beta of 3.32.

Carvana (NYSE:CVNA) last posted its earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the firm earned ($0.97) earnings per share. Carvana’s revenue was down 14.6% compared to the same quarter last year. On average, sell-side analysts expect that Carvana Co. will post -3.4 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, insider Paul W. Breaux sold 20,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $89.00, for a total transaction of $1,780,000.00. Following the sale, the insider now directly owns 115,032 shares in the company, valued at $10,237,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Carvana news, CFO Mark W. Jenkins sold 55,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $86.76, for a total transaction of $4,771,800.00. Following the sale, the chief financial officer now directly owns 178,156 shares in the company, valued at $15,456,814.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul W. Breaux sold 20,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $89.00, for a total transaction of $1,780,000.00. Following the sale, the insider now owns 115,032 shares in the company, valued at $10,237,848. The disclosure for this sale can be found here. Insiders have sold 187,883 shares of company stock valued at $15,505,178 over the last 90 days. 17.18% of the stock is owned by insiders.

Institutional Trading of Carvana

Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. purchased a new stake in shares of Carvana during the fourth quarter worth approximately $29,000. Vanguard Group Inc. increased its stake in shares of Carvana by 0.7% during the third quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock worth $393,268,000 after buying an additional 62,820 shares during the period. Quantbot Technologies LP acquired a new position in Carvana in the third quarter valued at approximately $2,879,000. Charles Schwab Investment Management Inc. boosted its holdings in Carvana by 56.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock valued at $32,684,000 after purchasing an additional 280,851 shares in the last quarter. Finally, TD Asset Management Inc acquired a new position in Carvana in the third quarter valued at approximately $22,906,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

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.