Carvana Co. (NYSE:CVNA) Sees Significant Decline in Short Interest

Carvana Co. (NYSE:CVNA) was the target of a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 13,255,405 shares, a decrease of 12.6% from the February 12th total of 15,165,730 shares. Approximately 7.2% of the company’s stock are short sold. Based on an average daily trading volume, of 6,288,697 shares, the days-to-cover ratio is presently 2.1 days. Based on an average daily trading volume, of 6,288,697 shares, the days-to-cover ratio is presently 2.1 days. Approximately 7.2% of the company’s stock are short sold.

Insider Buying and Selling at Carvana

In other news, COO Benjamin E. Huston sold 10,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $401.94, for a total value of $4,019,400.00. Following the completion of the sale, the chief operating officer owned 99,871 shares in the company, valued at $40,142,149.74. This represents a 9.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Stephen R. Palmer sold 1,000 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $393.04, for a total transaction of $393,040.00. Following the completion of the sale, the vice president owned 37,192 shares of the company’s stock, valued at approximately $14,617,943.68. This represents a 2.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 53,574 shares of company stock worth $21,463,735. 16.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Carvana

Several large investors have recently added to or reduced their stakes in CVNA. First Horizon Corp boosted its position in Carvana by 6.4% during the fourth quarter. First Horizon Corp now owns 418 shares of the company’s stock worth $176,000 after purchasing an additional 25 shares during the period. SJS Investment Consulting Inc. increased its stake in shares of Carvana by 28.3% in the third quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock worth $51,000 after purchasing an additional 30 shares in the last quarter. MAI Capital Management raised its position in shares of Carvana by 1.8% in the second quarter. MAI Capital Management now owns 1,757 shares of the company’s stock valued at $592,000 after purchasing an additional 31 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Carvana by 23.1% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 165 shares of the company’s stock valued at $62,000 after buying an additional 31 shares in the last quarter. Finally, Finivi Inc. lifted its stake in shares of Carvana by 4.6% during the 4th quarter. Finivi Inc. now owns 698 shares of the company’s stock valued at $295,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

CVNA has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Carvana from $600.00 to $519.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Weiss Ratings upgraded Carvana from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, February 19th. Evercore reduced their target price on Carvana from $430.00 to $390.00 in a report on Thursday, February 19th. Bank of America decreased their price target on Carvana from $460.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Finally, Wells Fargo & Company cut their price objective on Carvana from $525.00 to $425.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $440.59.

Carvana Stock Up 1.9%

CVNA opened at $305.71 on Tuesday. Carvana has a twelve month low of $148.25 and a twelve month high of $486.89. The company’s 50-day moving average price is $385.81 and its two-hundred day moving average price is $378.31. The stock has a market cap of $66.90 billion, a price-to-earnings ratio of 38.02 and a beta of 3.60. The company has a quick ratio of 2.73, a current ratio of 4.31 and a debt-to-equity ratio of 1.15.

Carvana’s stock is going to split on Thursday, May 7th. The 5-1 split was announced on Friday, March 13th. The newly created shares will be issued to shareholders after the market closes on Wednesday, May 6th.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $3.12. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.24 billion. Carvana had a return on equity of 50.96% and a net margin of 6.92%.The business’s revenue for the quarter was up 58.0% on a year-over-year basis. During the same period last year, the business posted $0.56 earnings per share. As a group, equities analysts expect that Carvana will post 2.85 earnings per share for the current year.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.