Daniel J. Gill Sells 70,166 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) insider Daniel J. Gill sold 70,166 shares of Carvana stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $281.43, for a total value of $19,746,817.38. Following the transaction, the insider now directly owns 201,087 shares in the company, valued at $56,591,914.41. The trade was a 25.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Carvana Stock Up 4.8%

CVNA stock opened at $293.00 on Wednesday. The firm has a market capitalization of $62.46 billion, a PE ratio of 186.62 and a beta of 3.61. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. Carvana Co. has a twelve month low of $97.55 and a twelve month high of $299.00. The stock’s 50 day moving average is $213.32 and its 200-day moving average is $228.39.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.76. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Carvana’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 EPS. Sell-side analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CVNA. JPMorgan Chase & Co. lowered their price objective on Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Piper Sandler increased their target price on shares of Carvana from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, April 22nd. JMP Securities dropped their price target on shares of Carvana from $340.00 to $275.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley raised shares of Carvana from an “underweight” rating to an “overweight” rating in a research note on Monday, March 31st. Finally, Bank of America lifted their target price on shares of Carvana from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $268.59.

Institutional Trading of Carvana

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Carvana by 9.7% during the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after purchasing an additional 1,109,476 shares during the last quarter. Norges Bank bought a new position in shares of Carvana during the 4th quarter worth approximately $179,364,000. Castle Hook Partners LP purchased a new position in shares of Carvana in the 4th quarter worth approximately $116,020,000. BNP Paribas Financial Markets grew its holdings in shares of Carvana by 89.8% in the fourth quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company’s stock valued at $207,086,000 after acquiring an additional 481,912 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Carvana during the fourth quarter valued at approximately $86,636,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.