Thomas Taira Sells 27,593 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) insider Thomas Taira sold 27,593 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the completion of the transaction, the insider now owns 179,673 shares in the company, valued at $40,431,815.19. The trade was a 13.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Carvana Trading Down 7.5 %

Shares of Carvana stock traded down $16.54 during midday trading on Wednesday, reaching $205.12. 4,366,873 shares of the company’s stock traded hands, compared to its average volume of 3,875,114. The stock has a 50 day moving average of $228.48 and a 200-day moving average of $216.58. Carvana Co. has a 12 month low of $67.61 and a 12 month high of $292.84. The company has a market cap of $43.72 billion, a PE ratio of 130.65 and a beta of 3.56. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. As a group, equities analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Royal Bank of Canada increased their target price on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Robert W. Baird raised their price target on Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. JMP Securities reiterated a “market outperform” rating and set a $320.00 price objective on shares of Carvana in a research note on Monday, December 16th. Wedbush set a $250.00 target price on Carvana and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, Evercore ISI reduced their target price on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, March 11th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $263.88.

Institutional Trading of Carvana

Hedge funds have recently modified their holdings of the business. Cerity Partners LLC increased its stake in shares of Carvana by 112.8% in the 3rd quarter. Cerity Partners LLC now owns 4,215 shares of the company’s stock worth $734,000 after acquiring an additional 2,234 shares in the last quarter. Larson Financial Group LLC purchased a new stake in Carvana in the third quarter worth about $217,000. Daiwa Securities Group Inc. bought a new position in shares of Carvana during the third quarter valued at approximately $244,000. Harvest Fund Management Co. Ltd lifted its holdings in shares of Carvana by 97.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,489 shares of the company’s stock valued at $259,000 after purchasing an additional 735 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Carvana by 17.7% in the 3rd quarter. Bank of Montreal Can now owns 239,336 shares of the company’s stock worth $40,634,000 after purchasing an additional 35,922 shares in the last quarter. 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.