Carvana (NYSE:CVNA) Stock Price Down 4.5%

Carvana Co. (NYSE:CVNA)’s share price traded down 4.5% during mid-day trading on Monday . The company traded as low as $67.61 and last traded at $68.16. 1,641,751 shares were traded during trading, a decline of 73% from the average session volume of 6,099,525 shares. The stock had previously closed at $71.36.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. William Blair raised Carvana from a “market perform” rating to an “outperform” rating in a research report on Friday, February 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 target price on shares of Carvana in a research report on Wednesday, April 17th. Evercore ISI cut their target price on Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. JPMorgan Chase & Co. boosted their target price on Carvana from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Wedbush boosted their target price on Carvana from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $53.87.

Carvana Price Performance

The business has a 50 day simple moving average of $75.21 and a 200 day simple moving average of $52.55. The stock has a market cap of $14.30 billion, a PE ratio of 132.15 and a beta of 3.32.

Carvana (NYSE:CVNA) last issued its earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the prior year, the business earned ($0.97) EPS. Carvana’s quarterly revenue was down 14.6% on a year-over-year basis. As a group, sell-side analysts forecast that Carvana Co. will post -3.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $69.00, for a total value of $1,035,000.00. Following the transaction, the insider now owns 150,126 shares in the company, valued at $10,358,694. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the completion of the sale, the insider now owns 150,126 shares in the company, valued at approximately $10,358,694. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul W. Breaux sold 20,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $89.00, for a total value of $1,780,000.00. Following the sale, the insider now owns 115,032 shares of the company’s stock, valued at approximately $10,237,848. The disclosure for this sale can be found here. Insiders have sold 187,883 shares of company stock worth $15,505,178 over the last 90 days. 17.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Carvana

Large investors have recently made changes to their positions in the stock. Blue Trust Inc. bought a new stake in shares of Carvana during the 4th quarter worth about $29,000. Vanguard Group Inc. boosted its stake in shares of Carvana by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock worth $393,268,000 after acquiring an additional 62,820 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Carvana during the 3rd quarter worth about $2,879,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Carvana by 56.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock worth $32,684,000 after acquiring an additional 280,851 shares in the last quarter. Finally, TD Asset Management Inc bought a new stake in Carvana during the 3rd quarter valued at approximately $22,906,000. 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.