Thomas Taira Sells 27,593 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) insider Thomas Taira sold 27,593 shares of Carvana stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the completion of the transaction, the insider now directly owns 179,673 shares in the company, valued at $40,431,815.19. This trade represents a 13.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Carvana Trading Down 7.5 %

Shares of NYSE:CVNA traded down $16.54 during trading on Wednesday, reaching $205.12. The stock had a trading volume of 4,366,873 shares, compared to its average volume of 3,875,114. Carvana Co. has a 52 week low of $67.61 and a 52 week high of $292.84. The firm’s fifty day moving average is $228.48 and its 200 day moving average is $216.58. The stock has a market cap of $43.72 billion, a price-to-earnings ratio of 130.65 and a beta of 3.56. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. As a group, equities analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Carvana

A number of institutional investors and hedge funds have recently modified their holdings of CVNA. FMR LLC increased its stake in shares of Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after acquiring an additional 5,882,656 shares in the last quarter. Vanguard Group Inc. grew its holdings in Carvana by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock worth $2,323,463,000 after purchasing an additional 610,234 shares during the period. Lingotto Investment Management LLP increased its stake in Carvana by 1.5% in the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock valued at $810,827,000 after purchasing an additional 57,215 shares in the last quarter. Durable Capital Partners LP raised its holdings in shares of Carvana by 6.3% during the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock valued at $440,932,000 after purchasing an additional 129,246 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Carvana by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock worth $381,592,000 after purchasing an additional 75,250 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Piper Sandler raised Carvana from a “neutral” rating to an “overweight” rating and set a $225.00 target price for the company in a research note on Thursday, March 20th. Royal Bank of Canada upped their price objective on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Evercore ISI cut their target price on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 11th. Bank of America dropped their price target on Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Finally, Morgan Stanley upgraded Carvana from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $260.00 to $280.00 in a research report on Tuesday. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and an average target price of $263.88.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.