Insider Selling: Carvana (NYSE:CVNA) Insider Sells $18,125,042.94 in Stock

Carvana Co. (NYSE:CVNA) insider Daniel Gill sold 253,639 shares of the stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $71.46, for a total transaction of $18,125,042.94. Following the completion of the sale, the insider directly owned 773,548 shares of the company’s stock, valued at approximately $55,277,740.08. This trade represents a 24.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Carvana Stock Down 6.9%

Shares of CVNA stock opened at $72.18 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.05 and a quick ratio of 2.43. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The company’s fifty day moving average price is $65.82 and its 200-day moving average price is $69.03. The company has a market capitalization of $79.44 billion, a price-to-earnings ratio of 38.94, a PEG ratio of 1.99 and a beta of 3.66.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 28th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.05). Carvana had a return on equity of 34.77% and a net margin of 6.21%. The firm had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $7.71 billion. During the same period in the prior year, the company posted $1.03 EPS. The company’s quarterly revenue was up 42.4% on a year-over-year basis. Sell-side analysts expect that Carvana Co. will post 1.59 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on CVNA shares. Morgan Stanley reiterated an “overweight” rating on shares of Carvana in a research report on Thursday, October 29th. Oppenheimer set a $90.00 price target on Carvana and gave the stock an “outperform” rating in a report on Wednesday, September 30th. Zacks Research cut Carvana from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 15th. Robert W. Baird set a $72.00 price target on Carvana in a research note on Thursday, July 30th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Carvana in a report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.09.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CVNA. State Street Corp raised its stake in shares of Carvana by 417.1% in the second quarter. State Street Corp now owns 29,435,364 shares of the company’s stock valued at $1,937,436,000 after acquiring an additional 23,742,422 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Carvana by 345.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company’s stock worth $218,867,000 after acquiring an additional 2,579,295 shares during the last quarter. Amundi boosted its stake in shares of Carvana by 379.7% during the 2nd quarter. Amundi now owns 2,421,045 shares of the company’s stock worth $159,353,000 after purchasing an additional 1,916,349 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Carvana by 384.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,898,095 shares of the company’s stock worth $124,933,000 after purchasing an additional 1,506,145 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Carvana by 372.0% during the 2nd quarter. Bank of America Corp DE now owns 1,791,844 shares of the company’s stock worth $117,939,000 after purchasing an additional 1,412,188 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

About Carvana

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.