Carvana (NYSE:CVNA) Trading Down 6.1% Following Insider Selling

Carvana Co. (NYSE:CVNA)’s stock price fell 6.1% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $176.77 and last traded at $175.15. 636,863 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 3,819,001 shares. The stock had previously closed at $186.50.

Specifically, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the transaction, the chief operating officer now owns 196,278 shares in the company, valued at $35,033,660.22. This trade represents a 20.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CVNA. William Blair restated an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. Evercore ISI cut their target price on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research note on Tuesday, March 11th. Stephens restated an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. JPMorgan Chase & Co. raised their target price on Carvana from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Finally, Wedbush set a $250.00 price target on Carvana and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.71.

Carvana Stock Up 5.9 %

The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The company has a market capitalization of $37.59 billion, a P/E ratio of 112.32 and a beta of 3.56. The company has a 50-day moving average of $227.84 and a two-hundred day moving average of $214.38.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. On average, research analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Institutional Investors Weigh In On Carvana

Several hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its holdings in Carvana by 81.5% in the fourth quarter. California State Teachers Retirement System now owns 181,249 shares of the company’s stock worth $36,859,000 after acquiring an additional 81,414 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Carvana by 16.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,513 shares of the company’s stock worth $511,000 after acquiring an additional 348 shares in the last quarter. Siemens Fonds Invest GmbH bought a new stake in Carvana in the fourth quarter worth $839,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Carvana in the fourth quarter worth $36,527,000. Finally, Brucke Financial Inc. bought a new stake in Carvana in the fourth quarter worth $415,000. 56.71% of the stock is owned by institutional investors.

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.