Key Points
- Insider sale: Carvana insider Ryan Keeton sold 10,000 shares on Nov. 25 at an average price of $350 for a total of $3.5M, reducing his ownership by 9.53% to 94,958 shares (SEC Form 4 filed).
- Financials and market view: Carvana reported quarterly EPS of $1.03 (missing estimates) while revenue rose to $5.65 billion (+54.5% YoY); the stock trades near $374.50 with a market cap of $81.47B and a consensus analyst target of about $420.70 ("Moderate Buy").
Carvana Co. (NYSE:CVNA - Get Free Report) insider Ryan Keeton sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $350.00, for a total value of $3,500,000.00. Following the completion of the sale, the insider directly owned 94,958 shares of the company's stock, valued at $33,235,300. This represents a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Carvana Trading Up 4.8%
Shares of CVNA stock opened at $374.50 on Friday. The firm has a market capitalization of $81.47 billion, a P/E ratio of 85.50, a price-to-earnings-growth ratio of 1.29 and a beta of 3.50. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $413.33. The firm's fifty day simple moving average is $345.17 and its 200 day simple moving average is $342.25. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63.
Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.29 by ($0.26). Carvana had a net margin of 3.44% and a return on equity of 30.62%. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same period last year, the company earned $0.64 earnings per share. Carvana's revenue for the quarter was up 54.5% on a year-over-year basis. As a group, sell-side analysts predict that Carvana Co. will post 2.85 EPS for the current year.
Institutional Investors Weigh In On Carvana
Institutional investors and hedge funds have recently made changes to their positions in the company. Choreo LLC bought a new stake in shares of Carvana in the 1st quarter worth about $216,000. Avantax Advisory Services Inc. boosted its position in Carvana by 51.4% in the first quarter. Avantax Advisory Services Inc. now owns 1,679 shares of the company's stock valued at $351,000 after buying an additional 570 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Carvana by 2.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,357 shares of the company's stock worth $4,883,000 after buying an additional 478 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Carvana by 32.0% during the first quarter. LPL Financial LLC now owns 56,441 shares of the company's stock worth $11,801,000 after buying an additional 13,696 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Carvana by 25.2% during the first quarter. Mackenzie Financial Corp now owns 7,099 shares of the company's stock worth $1,484,000 after buying an additional 1,430 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on CVNA. Wall Street Zen downgraded Carvana from a "buy" rating to a "hold" rating in a research report on Sunday, October 19th. JPMorgan Chase & Co. raised their target price on Carvana from $425.00 to $490.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 21st. Zacks Research downgraded shares of Carvana from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 4th. DA Davidson set a $360.00 price objective on shares of Carvana in a research note on Thursday, October 30th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Carvana in a report on Tuesday. Seventeen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $420.70.
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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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