Carvana Co. (NYSE:CVNA - Get Free Report) insider Thomas Taira sold 4,197 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $82.84, for a total value of $347,679.48. Following the completion of the transaction, the insider now directly owns 164,827 shares in the company, valued at approximately $13,654,268.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Carvana Stock Down 0.6 %
NYSE CVNA opened at $82.38 on Thursday. The company has a 50-day simple moving average of $67.73 and a two-hundred day simple moving average of $49.57. The firm has a market cap of $16.63 billion, a price-to-earnings ratio of 152.56 and a beta of 3.32. Carvana Co. has a 12-month low of $6.70 and a 12-month high of $94.04.
Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing analysts' consensus estimates of ($0.95) by ($0.05). The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.56 billion. The company's revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.97) EPS. Equities analysts expect that Carvana Co. will post -3.4 earnings per share for the current fiscal year.
Institutional Trading of Carvana
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Institutional investors have recently modified their holdings of the company. Tudor Investment Corp Et Al purchased a new stake in shares of Carvana during the second quarter worth about $11,071,000. Vanguard Group Inc. lifted its holdings in Carvana by 0.7% in 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 purchased a new stake in Carvana in the third quarter worth about $2,879,000. Charles Schwab Investment Management Inc. lifted 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 worth $32,684,000 after buying an additional 280,851 shares during the period. Finally, TD Asset Management Inc purchased a new stake in Carvana in the third quarter worth about $22,906,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
CVNA has been the topic of a number of research analyst reports. Raymond James raised Carvana from an "underperform" rating to a "market perform" rating in a research note on Friday, February 23rd. Morgan Stanley increased their target price on Carvana from $32.00 to $45.00 and gave the company an "underweight" rating in a research note on Monday, February 26th. Jefferies Financial Group raised Carvana from an "underperform" rating to a "hold" rating and increased their target price for the company from $30.00 to $85.00 in a research note on Tuesday, March 12th. Royal Bank of Canada raised Carvana from an "underperform" rating to a "sector perform" rating and increased their target price for the company from $45.00 to $90.00 in a research note on Friday, March 8th. Finally, Evercore ISI increased their target price on Carvana from $75.00 to $78.00 and gave the company an "in-line" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Carvana presently has an average rating of "Hold" and an average price target of $50.60.
Read Our Latest Stock Report on Carvana
About Carvana
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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.
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