Insider Selling: Carvana Co. (NYSE:CVNA) Director Sells 9,000 Shares of Stock

Carvana Co. (NYSE:CVNA) Director Michael E. Maroone sold 9,000 shares of the firm’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $273.44, for a total value of $2,460,960.00. Following the completion of the transaction, the director now owns 143,504 shares of the company’s stock, valued at approximately $39,239,733.76. This represents a 5.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Carvana Stock Up 4.2%

CVNA stock traded up $11.32 during midday trading on Monday, hitting $279.44. 4,087,114 shares of the company’s stock were exchanged, compared to its average volume of 3,919,104. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. Carvana Co. has a 12-month low of $97.55 and a 12-month high of $293.62. The firm has a 50 day moving average price of $209.94 and a 200-day moving average price of $227.40. The stock has a market capitalization of $59.57 billion, a price-to-earnings ratio of 177.99 and a beta of 3.61.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the previous year, the business earned $0.23 EPS. Carvana’s revenue for the quarter was up 38.3% compared to the same quarter last year. On average, analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Institutional Investors Weigh In On Carvana

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quent Capital LLC purchased a new stake in Carvana during the 4th quarter worth approximately $28,000. Global Retirement Partners LLC increased its holdings in shares of Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Rialto Wealth Management LLC bought a new stake in shares of Carvana in the 4th quarter valued at approximately $31,000. N.E.W. Advisory Services LLC bought a new stake in shares of Carvana in the 1st quarter valued at approximately $33,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of Carvana by 79.2% in the 4th quarter. Venturi Wealth Management LLC now owns 224 shares of the company’s stock valued at $46,000 after acquiring an additional 99 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Evercore ISI decreased their price objective on Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research note on Tuesday, March 11th. JPMorgan Chase & Co. decreased their price objective on Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. DA Davidson increased their price objective on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Piper Sandler increased their price objective on Carvana from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, April 22nd. Finally, Morgan Stanley raised Carvana from an “underweight” rating to an “overweight” rating in a research note on Monday, March 31st. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $268.59.

About Carvana

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.