Carvana (NYSE:CVNA) Stock: Insider Ira Platt Sells 29,640 Shares

Carvana Co. (NYSE:CVNA) Director Ira Platt sold 29,640 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $75.75, for a total value of $2,245,230.00. Following the completion of the sale, the director directly owned 186,470 shares in the company, valued at $14,125,102.50. This represents a 13.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Carvana Stock Performance

CVNA stock traded down $5.38 during mid-day trading on Thursday, reaching $72.18. The company had a trading volume of 15,885,169 shares, compared to its average volume of 13,122,187. The company has a quick ratio of 2.43, a current ratio of 4.05 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $79.44 billion, a P/E ratio of 36.24, a P/E/G ratio of 1.83 and a beta of 3.66. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The stock’s 50-day simple moving average is $65.85 and its two-hundred day simple moving average is $69.13.

Carvana (NYSE:CVNA) last announced its quarterly 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 for the quarter, compared to analyst estimates of $7.71 billion. Carvana had a net margin of 6.21% and a return on equity of 34.77%. The business’s revenue was up 42.4% compared to the same quarter last year. During the same period last year, the firm posted $1.03 EPS. Research analysts anticipate that Carvana Co. will post 1.59 EPS for the current year.

Wall Street Analysts Forecast Growth

CVNA has been the subject of a number of analyst reports. Bank of America reissued a “neutral” rating on shares of Carvana in a research note on Thursday, October 29th. Weiss Ratings cut Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 22nd. BTIG Research set a $82.00 price target on Carvana and gave the company a “buy” rating in a report on Thursday, October 29th. Citizens Jmp boosted their price objective on Carvana from $83.00 to $85.00 and gave the stock a “market outperform” rating in a research report on Friday, October 30th. Finally, Hovde Group increased their price objective on Carvana from $39.50 to $48.00 and gave the stock a “market perform” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.09.

Institutional Investors Weigh In On Carvana

A number of hedge funds and other institutional investors have recently modified their holdings of CVNA. Annis Gardner Whiting Capital Advisors LLC grew its position in Carvana by 152.6% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after buying an additional 58 shares in the last quarter. Meeder Advisory Services Inc. increased its stake in Carvana by 3.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 1,993 shares of the company’s stock valued at $627,000 after buying an additional 75 shares during the period. Ascentis Independent Advisors bought a new stake in shares of Carvana during the 1st quarter worth about $26,000. Whipplewood Advisors LLC bought a new stake in shares of Carvana during the 1st quarter worth about $36,000. Finally, NorthRock Partners LLC raised its position in shares of Carvana by 4.4% during the 2nd quarter. NorthRock Partners LLC now owns 4,135 shares of the company’s stock worth $272,000 after buying an additional 175 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

Carvana Company Profile

Carvana Co (NYSE: CVNA) is an online automotive retailer that sells used vehicles through its digital platform. Customers can browse vehicles, review detailed descriptions and vehicle history information, arrange financing, complete transactions online and choose home delivery or pickup at a Carvana location.

The company also provides vehicle trade-in services and offers related products, including vehicle protection plans and other automotive services. Carvana is known for its automated, glass-enclosed vehicle vending machines, which provide an alternative pickup experience in select markets.

Founded in 2012 and headquartered in Tempe, Arizona, Carvana began operations as an online used-car retailer in 2013 and went public in 2017.