Key Points
- Insider Paul Breaux sold 8,473 shares on Dec. 11 at an average of $475, totaling $4,024,675, trimming his stake by 10.9% to 69,289 shares (about $32.9M).
- Carvana's Oct. 29 quarter missed EPS at $1.03 versus $1.29 expected, but revenue rose 54.5% YoY to $5.65 billion, with a 3.44% net margin and 30.62% ROE.
- Shares opened near $455.95 (down ~3.5%), valuing the company around $99.2B with a P/E of ~104, and analysts hold a consensus "Moderate Buy" with an average target of $438.76.
Carvana Co. (NYSE:CVNA - Get Free Report) insider Paul Breaux sold 1,527 shares of Carvana stock in a transaction on Friday, December 12th. The shares were sold at an average price of $475.00, for a total transaction of $725,325.00. Following the completion of the sale, the insider directly owned 69,289 shares of the company's stock, valued at approximately $32,912,275. The trade was a 2.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Carvana Trading Down 3.5%
Carvana stock opened at $455.95 on Friday. Carvana Co. has a one year low of $148.25 and a one year high of $485.33. The company's fifty day moving average price is $353.83 and its two-hundred day moving average price is $350.92. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. The company has a market capitalization of $99.19 billion, a price-to-earnings ratio of 104.10, a PEG ratio of 1.71 and a beta of 3.51.
Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.26). The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.The business's revenue was up 54.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 EPS. On average, analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
CVNA has been the topic of several analyst reports. Zacks Research downgraded Carvana from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 4th. Needham & Company LLC reiterated a "buy" rating and issued a $500.00 target price on shares of Carvana in a research note on Monday, November 17th. Jefferies Financial Group boosted their target price on shares of Carvana from $475.00 to $550.00 and gave the stock a "buy" rating in a research report on Thursday. Stephens reaffirmed an "overweight" rating and issued a $440.00 price target on shares of Carvana in a research report on Tuesday, September 23rd. Finally, Wedbush raised Carvana from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $380.00 to $400.00 in a research report on Monday, November 24th. Eighteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Carvana presently has a consensus rating of "Moderate Buy" and a consensus target price of $438.76.
Read Our Latest Stock Report on CVNA
Institutional Trading of Carvana
A number of institutional investors and hedge funds have recently modified their holdings of CVNA. Price T Rowe Associates Inc. MD raised its position in Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock worth $3,125,749,000 after purchasing an additional 1,823,218 shares in the last quarter. Viking Global Investors LP grew its stake in shares of Carvana by 94.9% in the 3rd quarter. Viking Global Investors LP now owns 2,101,241 shares of the company's stock valued at $792,672,000 after purchasing an additional 1,023,265 shares during the period. Sands Capital Management LLC raised its holdings in shares of Carvana by 1,374.3% in the 2nd quarter. Sands Capital Management LLC now owns 901,227 shares of the company's stock worth $303,677,000 after buying an additional 840,096 shares in the last quarter. Norges Bank acquired a new position in shares of Carvana in the 2nd quarter worth approximately $259,468,000. Finally, Invesco Ltd. lifted its position in shares of Carvana by 96.8% during the 3rd quarter. Invesco Ltd. now owns 1,445,018 shares of the company's stock worth $545,119,000 after buying an additional 710,582 shares during the period. 56.71% of the stock is currently owned by institutional investors.
About Carvana
(
Get Free Report)
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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