Carvana (NYSE:CVNA) Trading Down 3.6% – What’s Next?

Carvana Co. (NYSE:CVNA) traded down 3.6% on Monday . The company traded as low as $430.70 and last traded at $434.2160. 2,692,933 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 3,965,755 shares. The stock had previously closed at $450.22.

Analysts Set New Price Targets

Several brokerages have commented on CVNA. Wedbush raised their price objective on Carvana from $400.00 to $500.00 and gave the company an “outperform” rating in a report on Friday. Evercore ISI boosted their price target on shares of Carvana from $395.00 to $420.00 and gave the stock an “in-line” rating in a report on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft started coverage on shares of Carvana in a research report on Friday, November 21st. They set a “buy” rating and a $395.00 price objective for the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $460.00 target price on shares of Carvana in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Carvana in a research report on Monday, December 15th. Nineteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $446.09.

Carvana Stock Down 4.0%

The stock has a market capitalization of $94.07 billion, a price-to-earnings ratio of 98.75, a price-to-earnings-growth ratio of 1.47 and a beta of 3.51. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63. The business’s 50-day moving average is $363.36 and its two-hundred day moving average is $355.66.

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

Insider Buying and Selling

In other Carvana news, Director Michael E. Maroone sold 30,928 shares of Carvana stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $400.34, for a total transaction of $12,381,715.52. Following the transaction, the director directly owned 143,573 shares of the company’s stock, valued at $57,478,014.82. The trade was a 17.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Benjamin E. Huston sold 20,000 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $475.00, for a total transaction of $9,500,000.00. Following the completion of the transaction, the chief operating officer owned 100,758 shares in the company, valued at $47,860,050. The trade was a 16.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 584,332 shares of company stock worth $236,216,793 over the last quarter. Corporate insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently made changes to their positions in the stock. Hilltop National Bank bought a new stake in shares of Carvana in the second quarter valued at about $25,000. Brooklyn Investment Group raised its position in Carvana by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after buying an additional 125 shares during the last quarter. ORG Partners LLC raised its position in Carvana by 8,700.0% in the 3rd quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after buying an additional 87 shares during the last quarter. SJS Investment Consulting Inc. lifted its stake in Carvana by 960.0% in the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after acquiring an additional 96 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Carvana during the 2nd quarter worth approximately $38,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.