Insider Selling: Carvana (NYSE:CVNA) Insider Sells $1,184,967.62 in Stock

Carvana Co. (NYSE:CVNA) insider Thomas Taira sold 16,789 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $70.58, for a total value of $1,184,967.62. Following the sale, the insider directly owned 366,987 shares in the company, valued at $25,901,942.46. This trade represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Price Performance

Shares of NYSE CVNA traded down $1.52 during midday trading on Wednesday, reaching $65.38. 8,549,373 shares of the stock traded hands, compared to its average volume of 13,743,702. The company’s 50 day moving average is $69.43 and its 200 day moving average is $68.48. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. The stock has a market capitalization of $71.95 billion, a PE ratio of 36.16, a P/E/G ratio of 2.04 and a beta of 3.49.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. The company had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. Carvana’s quarterly revenue was up 52.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.51 earnings per share. On average, equities research analysts anticipate that Carvana Co. will post 1.68 earnings per share for the current year.

Institutional Trading of Carvana

A number of large investors have recently modified their holdings of CVNA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Carvana by 345.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company’s stock valued at $218,867,000 after acquiring an additional 2,579,295 shares in the last quarter. Amundi grew its holdings in Carvana by 379.7% during the 2nd quarter. Amundi now owns 2,421,045 shares of the company’s stock worth $159,353,000 after acquiring an additional 1,916,349 shares in the last quarter. Capital Research Global Investors increased its position in Carvana by 42.9% during the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock valued at $2,405,959,000 after purchasing an additional 1,711,144 shares during the period. The Manufacturers Life Insurance Company increased its position in Carvana by 384.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,898,095 shares of the company’s stock valued at $124,933,000 after purchasing an additional 1,506,145 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Carvana by 372.0% in the 2nd quarter. Bank of America Corp DE now owns 1,791,844 shares of the company’s stock valued at $117,939,000 after purchasing an additional 1,412,188 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CVNA. Jefferies Financial Group decreased their target price on shares of Carvana from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. Morgan Stanley set a $90.00 price objective on Carvana and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Royal Bank Of Canada set a $82.00 price objective on Carvana and gave the company an “outperform” rating in a research report on Thursday, July 30th. Evercore set a $75.00 price objective on Carvana in a research note on Thursday, July 30th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $87.00 price objective on shares of Carvana in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Carvana has a consensus rating of “Moderate Buy” and a consensus target price of $84.14.

About Carvana

Carvana Co (NYSE: CVNA) is an online used-car retailer that enables consumers to research, purchase, finance and sell vehicles through its website and mobile platform. The company offers a selection of used cars, trucks and SUVs, with vehicle listings that generally include photographs, pricing and vehicle-history information.

Customers can complete much of the vehicle-buying process online, including applying for financing, arranging trade-ins and scheduling vehicle pickup or delivery.