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) insider Thomas Taira sold 5,596 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $75.74, for a total value of $423,841.04. Following the completion of the transaction, the insider directly owned 347,897 shares of the company's stock, valued at approximately $26,349,718.78. The trade was a 1.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 Monday, October 12th, Thomas Taira sold 5,597 shares of Carvana stock. The stock was sold at an average price of $65.00, for a total value of $363,805.00.
- On Monday, September 14th, Thomas Taira sold 16,789 shares of Carvana stock. The shares were sold at an average price of $70.58, for a total value of $1,184,967.62.
Carvana Price Performance
Shares of CVNA stock opened at $70.86 on Friday. The stock's fifty day simple moving average is $65.81 and its 200 day simple moving average is $68.58. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The firm has a market cap of $78.18 billion, a price-to-earnings 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 current ratio of 4.05 and a quick ratio of 2.43.
Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data 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 company had revenue of $8.04 billion for the quarter, compared to analyst estimates of $7.71 billion. Carvana had a return on equity of 34.77% and a net margin of 6.21%. The business's revenue was up 42.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 earnings per share. On average, analysts expect that Carvana Co. will post 1.59 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Carvana
Several institutional investors have recently bought and sold shares of CVNA. State Street Corp boosted its stake in 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 purchasing an additional 627,754 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Carvana by 345.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company's stock worth $218,867,000 after purchasing an additional 2,579,295 shares during the last quarter. Amundi increased its stake in shares of Carvana by 379.7% in the second quarter. Amundi now owns 2,421,045 shares of the company's stock valued at $159,353,000 after buying an additional 1,916,349 shares in the last quarter. Spruce House Investment Management LLC increased its stake 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 valued at $734,077,000 after buying an additional 60,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Carvana by 384.3% in the second quarter. The Manufacturers Life Insurance Company now owns 1,898,095 shares of the company's stock valued at $124,933,000 after buying an additional 1,506,145 shares in the last quarter. Institutional investors own 56.71% of the company's stock.
Wall Street Analyst Weigh In
CVNA has been the topic of several analyst reports. Morgan Stanley reaffirmed an "overweight" rating on shares of Carvana in a report on Thursday, October 29th. Oppenheimer set a $90.00 price target on shares of Carvana and gave the company an "outperform" rating in a report on Wednesday, September 30th. Stephens reissued an "overweight" rating and set a $83.00 price target (down from $91.50) on shares of Carvana in a report on Tuesday, October 6th. Evercore set a $75.00 price target on shares of Carvana in a research report on Thursday, July 30th. Finally, UBS Group reaffirmed a "buy" rating and set a $84.00 price objective (up from $83.00) on shares of Carvana in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $82.09.
View Our Latest Research Report on Carvana
About Carvana
(
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.
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