Carvana Co. (NYSE:CVNA) Director Sells $3,533,443.36 in Stock

Carvana Co. (NYSE:CVNA) Director J Danforth Quayle sold 11,614 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $304.24, for a total value of $3,533,443.36. Following the sale, the director now directly owns 41,913 shares in the company, valued at $12,751,611.12. This represents a 21.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Carvana Stock Performance

NYSE CVNA opened at $299.68 on Friday. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. Carvana Co. has a 1 year low of $97.55 and a 1 year high of $311.88. The company has a market capitalization of $63.88 billion, a PE ratio of 190.88 and a beta of 3.61. The company has a fifty day moving average of $220.71 and a two-hundred day moving average of $230.33.

Carvana (NYSE:CVNA) last announced its 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. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the prior year, the company earned $0.23 earnings per share. The business’s revenue was up 38.3% compared to the same quarter last year. As a group, analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fred Alger Management LLC raised its holdings in shares of Carvana by 139.7% in the first quarter. Fred Alger Management LLC now owns 33,083 shares of the company’s stock valued at $6,917,000 after buying an additional 19,279 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Carvana by 2.8% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 14,289 shares of the company’s stock valued at $2,988,000 after buying an additional 383 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Carvana by 72.4% in the first quarter. NewEdge Advisors LLC now owns 9,068 shares of the company’s stock valued at $1,896,000 after buying an additional 3,807 shares during the last quarter. Interval Partners LP purchased a new stake in shares of Carvana in the first quarter valued at about $340,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Carvana by 55.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 16,496 shares of the company’s stock valued at $3,449,000 after buying an additional 5,906 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CVNA shares. Wedbush upgraded shares of Carvana to a “hold” rating in a research note on Thursday, May 8th. Robert W. Baird boosted their target price on shares of Carvana from $200.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Stephens reiterated an “overweight” rating and set a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. William Blair reiterated an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. Finally, Bank of America boosted 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 analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $269.18.

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.