Key Points
- Carvana insider Thomas Taira sold 16,789 shares for approximately $1.18 million under a pre-arranged Rule 10b5-1 trading plan, reducing his holdings by 4.37% to 366,987 shares.
- Carvana reported quarterly EPS of $0.42, exceeding estimates of $0.39, while revenue rose 52.4% year over year to $7.38 billion. The stock opened at $65.38, down 2.3%.
- Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $84.14; institutional investors own 56.71% of the company.
Carvana Co. (NYSE:CVNA - Get Free Report) insider Thomas Taira sold 16,789 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $70.58, for a total transaction of $1,184,967.62. Following the completion of the transaction, the insider owned 366,987 shares of the company's stock, valued at $25,901,942.46. This represents a 4.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Carvana Stock Down 2.3%
CVNA stock opened at $65.38 on Thursday. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38. The company has a market capitalization of $71.95 billion, a price-to-earnings ratio of 36.16, a price-to-earnings-growth ratio of 1.93 and a beta of 3.49. The firm's 50-day moving average is $69.41 and its two-hundred day moving average is $68.47. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94.
Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.03. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The company had revenue of $7.38 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period in the prior year, the business posted $1.51 EPS. The business's revenue for the quarter was up 52.4% compared to the same quarter last year. On average, analysts forecast that Carvana Co. will post 1.68 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Carvana
A number of institutional investors have recently bought and sold shares of CVNA. Capital Research Global Investors raised its holdings in Carvana by 42.9% during the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company's stock worth $2,405,959,000 after buying an additional 1,711,144 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Carvana by 55.4% in the fourth quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company's stock worth $1,632,763,000 after buying an additional 1,382,852 shares during the period. Sands Capital Management LLC increased its position in shares of Carvana by 44.4% in the fourth quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company's stock worth $1,030,798,000 after acquiring an additional 751,019 shares in the last quarter. Spruce House Investment Management LLC increased its position in shares of Carvana by 2.6% in the first quarter. Spruce House Investment Management LLC now owns 2,335,000 shares of the company's stock worth $734,077,000 after acquiring an additional 60,000 shares in the last quarter. Finally, Capital World Investors increased its position in shares of Carvana by 58.6% in the fourth quarter. Capital World Investors now owns 1,278,944 shares of the company's stock worth $539,740,000 after acquiring an additional 472,701 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.
Analysts Set New Price Targets
CVNA has been the subject of several research analyst reports. Royal Bank Of Canada set a $82.00 price objective on Carvana and gave the company an "outperform" rating in a report on Thursday, July 30th. UBS Group reiterated a "buy" rating and issued a $83.00 price target on shares of Carvana in a research report on Friday, July 31st. Jefferies Financial Group lowered their price objective on shares of Carvana from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $80.00 target price on shares of Carvana in a report on Friday, July 31st. Finally, Barclays decreased their price target on shares of Carvana from $94.00 to $93.00 and set an "overweight" rating on the stock in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $84.14.
Check Out Our Latest Stock Report on Carvana
Carvana Company Profile
(
Get Free Report)
Carvana Co (NYSE: CVNA) is an online used-car retailer that enables consumers to research, purchase, finance and sell vehicles through its website and mobile platform. The company offers a selection of used cars, trucks and SUVs, with vehicle listings that generally include photographs, pricing and vehicle-history information.
Customers can complete much of the vehicle-buying process online, including applying for financing, arranging trade-ins and scheduling vehicle pickup or delivery.
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