Key Points
- Director J. Danforth Quayle sold 2,900 shares on March 9 at an average price of $309.97 for a total of $898,913, reducing his stake by 6.47% to 41,913 shares (valued at roughly $12.99M).
- Carvana posted a major quarterly beat with EPS of $4.22 (vs. $1.10 expected) and revenue of $5.60B (vs. $5.24B), while revenue rose 58% year-over-year and the stock trades within a $148.25–$486.89 52-week range.
- Analyst sentiment is largely favorable—MarketBeat shows a "Moderate Buy" consensus with a consensus price target of $440.59 (19 Buys, 5 Holds, 1 Strong Buy).
Carvana Co. (NYSE:CVNA - Get Free Report) Director J Danforth Quayle sold 2,900 shares of the firm's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $309.97, for a total value of $898,913.00. Following the completion of the transaction, the director owned 41,913 shares in the company, valued at $12,991,772.61. The trade was a 6.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Carvana Trading Up 3.5%
Shares of CVNA opened at $328.74 on Tuesday. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $486.89. The stock has a market cap of $71.94 billion, a PE ratio of 40.89 and a beta of 3.60. The firm's fifty day moving average is $397.33 and its two-hundred day moving average is $380.49. The company has a quick ratio of 2.73, a current ratio of 4.31 and a debt-to-equity ratio of 1.15.
Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, February 18th. The company reported $4.22 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $3.12. The business had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.24 billion. Carvana had a net margin of 6.92% and a return on equity of 50.96%. The company's quarterly revenue was up 58.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 earnings per share. Research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.
Institutional Trading of Carvana
Institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC increased its position in shares of Carvana by 1,950.7% during the second quarter. Los Angeles Capital Management LLC now owns 111,190 shares of the company's stock worth $37,467,000 after purchasing an additional 105,768 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Carvana by 124.9% in the 3rd quarter. Federated Hermes Inc. now owns 265,921 shares of the company's stock valued at $100,316,000 after purchasing an additional 147,683 shares during the period. Hudson Bay Capital Management LP grew its stake in Carvana by 158.0% during the 2nd quarter. Hudson Bay Capital Management LP now owns 16,478 shares of the company's stock worth $5,552,000 after buying an additional 10,090 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Carvana by 11.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 637,462 shares of the company's stock worth $240,476,000 after buying an additional 64,424 shares during the period. Finally, Strs Ohio increased its position in Carvana by 89.9% during the third quarter. Strs Ohio now owns 37,756 shares of the company's stock worth $14,243,000 after buying an additional 17,878 shares during the period. Hedge funds and other institutional investors own 56.71% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. Stephens reissued an "overweight" rating and issued a $519.00 target price on shares of Carvana in a research note on Thursday, February 19th. BTIG Research cut their price target on Carvana from $535.00 to $455.00 and set a "buy" rating for the company in a report on Thursday, February 19th. DA Davidson reduced their price objective on Carvana from $470.00 to $320.00 and set a "neutral" rating on the stock in a research report on Thursday, February 19th. UBS Group set a $485.00 price objective on Carvana in a research note on Friday, February 20th. Finally, Wells Fargo & Company cut their target price on Carvana from $525.00 to $425.00 and set an "overweight" rating for the company in a research note on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $440.59.
Read Our Latest Research Report on CVNA
Carvana Company Profile
(
Get Free Report)
Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana's model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.
Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.
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