Key Points
- Carvana insider Thomas Taira sold 5,590 shares on May 8 at an average price of $79.97, totaling about $447,032. The sale reduced his direct holdings by 8.46% and was made under a pre-arranged Rule 10b5-1 plan.
- Taira has been selling shares repeatedly, including 18,850 shares on April 8 and 4,765 shares on March 9, indicating a pattern of insider stock sales this year.
- Carvana recently beat earnings expectations, reporting $1.69 EPS versus the $0.32 consensus and revenue of $6.43 billion, while analysts still largely rate the stock a Moderate Buy with an average target price of $109.75.
Carvana Co. (NYSE:CVNA - Get Free Report) insider Thomas Taira sold 5,590 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $79.97, for a total value of $447,032.30. Following the completion of the sale, the insider directly owned 60,452 shares in the company, valued at approximately $4,834,346.44. The trade was a 8.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Thomas Taira also recently made the following trade(s):
- On Wednesday, April 8th, Thomas Taira sold 18,850 shares of Carvana stock. The shares were sold at an average price of $68.20, for a total value of $1,285,570.00.
- On Monday, March 9th, Thomas Taira sold 4,765 shares of Carvana stock. The shares were sold at an average price of $65.00, for a total value of $309,725.00.
Carvana Stock Down 2.2%
Shares of NYSE CVNA opened at $76.21 on Tuesday. The firm has a market cap of $83.59 billion, a price-to-earnings ratio of 46.36, a PEG ratio of 28.00 and a beta of 3.55. The company has a quick ratio of 2.57, a current ratio of 4.09 and a debt-to-equity ratio of 1.05. Carvana Co. has a 52-week low of $53.44 and a 52-week high of $97.38. The business's 50 day moving average is $74.84 and its two-hundred day moving average is $77.02.
Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $1.37. The company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.12 billion. Carvana had a return on equity of 41.46% and a net margin of 6.40%. Research analysts predict that Carvana Co. will post 1.52 EPS for the current year.
Analysts Set New Price Targets
Several equities analysts have commented on CVNA shares. Robert W. Baird set a $88.00 price target on shares of Carvana in a research note on Thursday, April 30th. Citigroup restated an "outperform" rating on shares of Carvana in a research note on Friday, May 1st. JPMorgan Chase & Co. boosted their price target on shares of Carvana from $91.00 to $93.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Stephens boosted their price target on shares of Carvana from $86.00 to $97.00 in a research note on Thursday, April 30th. Finally, DA Davidson boosted their price target on shares of Carvana from $64.00 to $67.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Carvana has a consensus rating of "Moderate Buy" and an average target price of $109.75.
Check Out Our Latest Stock Report on CVNA
Hedge Funds Weigh In On Carvana
Several institutional investors have recently modified their holdings of the business. Ascentis Independent Advisors acquired a new position in shares of Carvana during the first quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Carvana during the fourth quarter worth $29,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Carvana during the fourth quarter worth $29,000. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Carvana by 152.6% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company's stock worth $30,000 after purchasing an additional 58 shares in the last quarter. Finally, ORG Partners LLC grew its stake in shares of Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company's stock worth $33,000 after purchasing an additional 87 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.
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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