Carvana (NYSE:CVNA) Stock: Insider Daniel Gill Sells 253,639 Shares

Carvana Co. (NYSE:CVNA) insider Daniel Gill sold 253,639 shares of Carvana stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $71.46, for a total transaction of $18,125,042.94. Following the transaction, the insider owned 773,548 shares in the company, valued at approximately $55,277,740.08. This trade represents a 24.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Carvana Price Performance

Carvana stock traded down $0.62 during mid-day trading on Tuesday, hitting $71.38. The stock had a trading volume of 9,959,162 shares, compared to its average volume of 13,071,145. The firm has a market capitalization of $78.55 billion, a P/E ratio of 35.84, a P/E/G ratio of 1.75 and a beta of 3.55. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94. The firm’s 50 day moving average is $65.83 and its 200 day moving average is $69.31. Carvana Co. has a one year low of $54.46 and a one year high of $97.38.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.05). The business had revenue of $8.04 billion during the quarter, compared to analysts’ expectations of $7.71 billion. Carvana had a return on equity of 36.63% and a net margin of 6.21%. The company’s quarterly revenue was up 42.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 EPS. On average, sell-side analysts forecast that Carvana Co. will post 1.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CVNA. DA Davidson reissued a “neutral” rating and set a $67.00 target price on shares of Carvana in a research note on Thursday, October 29th. Bank of America reissued a “neutral” rating on shares of Carvana in a report on Thursday, October 29th. UBS Group restated a “buy” rating and issued a $84.00 price target (up from $83.00) on shares of Carvana in a research note on Thursday, October 29th. BTIG Research set a $82.00 price objective on shares of Carvana and gave the company a “buy” rating in a report on Thursday, October 29th. Finally, Stephens reaffirmed an “overweight” rating and set a $83.00 price objective (down from $91.50) on shares of Carvana in a report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $82.09.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Ascentis Independent Advisors purchased a new position in Carvana in the 1st quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Carvana by 152.6% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after buying an additional 58 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in Carvana in the 1st quarter valued at about $36,000. Leonteq Securities AG boosted its position in Carvana by 106.8% in the 1st quarter. Leonteq Securities AG now owns 122 shares of the company’s stock valued at $38,000 after buying an additional 1,912 shares during the period. Finally, Root Financial Partners LLC grew its stake in Carvana by 114.1% in the 1st quarter. Root Financial Partners LLC now owns 289 shares of the company’s stock worth $91,000 after acquiring an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

About Carvana

Carvana Co (NYSE: CVNA) is an online automotive retailer that sells used vehicles through its digital platform. Customers can browse vehicles, review detailed descriptions and vehicle history information, arrange financing, complete transactions online and choose home delivery or pickup at a Carvana location.

The company also provides vehicle trade-in services and offers related products, including vehicle protection plans and other automotive services. Carvana is known for its automated, glass-enclosed vehicle vending machines, which provide an alternative pickup experience in select markets.

Founded in 2012 and headquartered in Tempe, Arizona, Carvana began operations as an online used-car retailer in 2013 and went public in 2017.