Insider Selling: Carvana (NYSE:CVNA) Insider Sells $8,770,000.00 in Stock

Carvana Co. (NYSE:CVNA) insider Paul Breaux sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $438.50, for a total value of $8,770,000.00. Following the completion of the sale, the insider owned 69,289 shares of the company’s stock, valued at $30,383,226.50. The trade was a 22.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Carvana Stock Down 3.5%

Shares of NYSE CVNA opened at $455.95 on Friday. The stock has a market capitalization of $99.19 billion, a P/E ratio of 104.10, a PEG ratio of 1.71 and a beta of 3.51. Carvana Co. has a one year low of $148.25 and a one year high of $485.33. The firm’s 50 day simple moving average is $353.83 and its two-hundred day simple moving average is $350.92. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was up 54.5% compared to the same quarter last year. As a group, analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CVNA has been the topic of several analyst reports. Citigroup lifted their price objective on Carvana from $445.00 to $550.00 and gave the stock a “buy” rating in a report on Friday. Bank of America raised their price target on Carvana from $385.00 to $455.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. DA Davidson set a $360.00 price target on Carvana in a research note on Thursday, October 30th. Wedbush upgraded shares of Carvana from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $380.00 to $400.00 in a report on Monday, November 24th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $460.00 price target on shares of Carvana in a report on Thursday, October 30th. Eighteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Carvana currently has an average rating of “Moderate Buy” and a consensus target price of $438.76.

Institutional Investors Weigh In On Carvana

Several institutional investors and hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in shares of Carvana by 13.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock valued at $3,125,749,000 after buying an additional 1,823,218 shares during the period. Vanguard Group Inc. boosted its position in Carvana by 5.4% during the 3rd quarter. Vanguard Group Inc. now owns 13,454,986 shares of the company’s stock valued at $5,075,759,000 after acquiring an additional 690,756 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Carvana by 0.5% during the 3rd quarter. Capital Research Global Investors now owns 3,989,809 shares of the company’s stock worth $1,505,186,000 after acquiring an additional 18,631 shares during the period. State Street Corp raised its position in shares of Carvana by 6.7% in the 3rd quarter. State Street Corp now owns 2,950,020 shares of the company’s stock worth $1,112,866,000 after acquiring an additional 184,974 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Carvana by 11.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,232,179 shares of the company’s stock worth $750,301,000 after acquiring an additional 221,161 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other 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.