Key Points
- Insider Daniel Gill sold 253,639 Carvana shares at an average of $71.46, for about $18.1 million, reducing his direct ownership by 24.69% to 773,548 shares.
- Carvana reported quarterly revenue of $8.04 billion, above estimates and up 42.4% year over year, but EPS of $0.39 fell short of the $0.44 consensus.
- Analysts’ consensus rating was “Moderate Buy,” with an average price target of $82.09; recent targets included $84 from UBS and $85 from Deutsche Bank.
Carvana Co. (NYSE:CVNA - Get Free Report) VP Stephen Palmer sold 5,000 shares of the company's stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $71.71, for a total value of $358,550.00. Following the completion of the transaction, the vice president directly owned 112,840 shares of the company's stock, valued at approximately $8,091,756.40. The trade was a 4.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Carvana Price Performance
Carvana stock opened at $71.38 on Wednesday. The stock has a 50-day moving average price of $65.81 and a two-hundred day moving average price of $69.20. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The company has a market capitalization of $78.55 billion, a PE ratio of 36.15, a P/E/G ratio of 1.85 and a beta of 3.66. The company has a current ratio of 4.05, a quick ratio of 2.43 and a debt-to-equity ratio of 0.86.
Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.05). Carvana had a return on equity of 34.77% and a net margin of 6.21%. The firm had revenue of $8.04 billion for the quarter, compared to the consensus estimate of $7.71 billion. During the same quarter last year, the firm posted $1.03 earnings per share. The business's revenue for the quarter was up 42.4% on a year-over-year basis. Analysts expect that Carvana Co. will post 1.59 EPS for the current year.
Institutional Trading of Carvana
Large investors have recently bought and sold shares of the business. State Street Corp lifted its stake in shares of Carvana by 417.1% in the 2nd quarter. State Street Corp now owns 29,435,364 shares of the company's stock valued at $1,937,436,000 after purchasing an additional 23,742,422 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Carvana by 345.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company's stock valued at $218,867,000 after purchasing an additional 2,579,295 shares in the last quarter. Amundi boosted its position in shares of Carvana by 379.7% during the 2nd quarter. Amundi now owns 2,421,045 shares of the company's stock valued at $159,353,000 after purchasing an additional 1,916,349 shares in the last quarter. Spruce House Investment Management LLC boosted its position in shares of Carvana by 2.6% during the 1st quarter. Spruce House Investment Management LLC now owns 2,335,000 shares of the company's stock valued at $734,077,000 after purchasing an additional 60,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Carvana by 384.3% during the second quarter. The Manufacturers Life Insurance Company now owns 1,898,095 shares of the company's stock worth $124,933,000 after purchasing an additional 1,506,145 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. Hovde Group boosted their target price on shares of Carvana from $39.50 to $48.00 and gave the stock a "market perform" rating in a report on Tuesday, August 4th. Barclays raised their price target on shares of Carvana from $80.00 to $82.00 and gave the company an "overweight" rating in a research note on Friday, October 30th. Weiss Ratings lowered shares of Carvana from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, September 22nd. UBS Group reiterated a "buy" rating and set a $84.00 price target (up from $83.00) on shares of Carvana in a report on Thursday, October 29th. Finally, Royal Bank Of Canada set a $82.00 price objective on shares of Carvana and gave the stock an "outperform" rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $82.09.
Read Our Latest Stock Report on Carvana
Key Carvana News
Here are the key news stories impacting Carvana this week:
- Neutral Sentiment: CFO Mark Jenkins sold 63,750 shares and VP Stephen Palmer sold 5,000 shares. Both transactions were made under pre-arranged Rule 10b5-1 plans, which can make them less indicative of a change in the executives’ outlook. Jenkins SEC filing Palmer SEC filing
- Negative Sentiment: Other reported sales included insider Daniel Gill’s 253,639 shares, plus sales by directors J. Quayle and Ira Platt. The sales add to concerns about insider sentiment, although the filings do not establish the sellers’ reasons. Gill SEC filing
- Negative Sentiment: Analysts trimmed growth assumptions, resulting in a lower fair-value estimate for Carvana. This could weigh on the stock by tempering expectations for future performance. Carvana fair-value article
About Carvana
(
Get Free Report)
Carvana Co (NYSE: CVNA) is an online automotive retailer that sells used vehicles through its digital platform. Customers can browse vehicles, review detailed descriptions and vehicle history information, arrange financing, complete transactions online and choose home delivery or pickup at a Carvana location.
The company also provides vehicle trade-in services and offers related products, including vehicle protection plans and other automotive services. Carvana is known for its automated, glass-enclosed vehicle vending machines, which provide an alternative pickup experience in select markets.
Founded in 2012 and headquartered in Tempe, Arizona, Carvana began operations as an online used-car retailer in 2013 and went public in 2017.
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