Key Points
- Carvana director J. Danforth Quayle sold 27,655 shares for about $2.02 million at an average price of $72.97, reducing his position by 12.87% to 187,305 shares.
- Carvana’s latest quarterly results showed revenue of $8.04 billion, up 42.4% year over year and above expectations, but EPS of $0.39 fell short of the $0.44 consensus.
- Analysts have a consensus “Moderate Buy” rating and an average price target of $82.09; 17 analysts rate the stock Buy or Strong Buy, while eight rate it Hold.
Carvana Co. (NYSE:CVNA - Get Free Report) Director J Quayle sold 27,655 shares of Carvana stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $72.97, for a total value of $2,017,985.35. Following the completion of the transaction, the director directly owned 187,305 shares of the company's stock, valued at approximately $13,667,645.85. This represents a 12.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
J Danforth Quayle also recently made the following trade(s):
- On Friday, October 30th, J Quayle sold 14,520 shares of Carvana stock. The stock was sold at an average price of $68.88, for a total transaction of $1,000,137.60.
- On Friday, August 14th, J Quayle sold 14,525 shares of Carvana stock. The shares were sold at an average price of $75.00, for a total transaction of $1,089,375.00.
Carvana Stock Down 4.1%
NYSE:CVNA opened at $70.86 on Friday. The firm has a market cap of $78.18 billion, a P/E ratio of 37.08, a P/E/G ratio of 2.51 and a beta of 3.66. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.43 and a current ratio of 4.05. Carvana Co. has a fifty-two week low of $54.46 and a fifty-two week high of $97.38. The firm has a 50-day simple moving average of $65.81 and a two-hundred day simple moving average of $68.58.
Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, October 28th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.05). The firm had revenue of $8.04 billion during the quarter, compared to analysts' expectations of $7.71 billion. Carvana had a return on equity of 34.77% and a net margin of 6.21%. The firm's quarterly revenue was up 42.4% on a year-over-year basis. During the same period last year, the firm posted $1.03 earnings per share. Analysts predict that Carvana Co. will post 1.59 earnings per share for the current fiscal year.
Analysts Set New Price Targets
CVNA has been the subject of several analyst reports. BTIG Research set a $82.00 price target on shares of Carvana and gave the company a "buy" rating in a research report on Thursday, October 29th. UBS Group reaffirmed a "buy" rating and issued a $84.00 price objective (up from $83.00) on shares of Carvana in a research report on Thursday, October 29th. Hovde Group increased their target price on Carvana from $39.50 to $48.00 and gave the company a "market perform" rating in a research note on Tuesday, August 4th. DA Davidson reissued a "neutral" rating and issued a $67.00 target price on shares of Carvana in a report on Thursday, October 29th. Finally, Needham & Company LLC reduced their target price on Carvana from $120.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $82.09.
Read Our Latest Analysis on CVNA
Institutional Trading of Carvana
Large investors have recently made changes to their positions in the stock. Lifeworks Advisors LLC boosted its stake in shares of Carvana by 4,520.0% in the 3rd quarter. Lifeworks Advisors LLC now owns 153,755 shares of the company's stock worth $9,616,000 after buying an additional 150,427 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Carvana by 12.1% in the third quarter. Benjamin Edwards Inc. now owns 5,188 shares of the company's stock worth $324,000 after acquiring an additional 562 shares during the period. State Street Corp grew its holdings in shares of Carvana by 2.1% in the third quarter. State Street Corp now owns 30,063,118 shares of the company's stock worth $1,880,147,000 after acquiring an additional 627,754 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its position in Carvana by 115.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 445 shares of the company's stock valued at $28,000 after acquiring an additional 238 shares during the last quarter. Finally, USS Investment Management Ltd increased its position in Carvana by 4.6% during the third quarter. USS Investment Management Ltd now owns 177,893 shares of the company's stock valued at $11,127,000 after acquiring an additional 7,883 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors.
Carvana Company Profile
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Get Free Report)
Carvana Co. operates an online platform for buying and selling used cars. Customers can browse vehicle listings, arrange financing, value a trade-in, and complete much of the purchase process online. The company also offers vehicle delivery or pickup, including at some locations with its distinctive car vending machines. Founded in 2012, Carvana has expanded its operations across the United States. Its services and vehicle availability vary by market, and the company supports its online marketplace with inspection, reconditioning, and logistics operations.
Further Reading
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