Carvana Co. (NYSE:CVNA) Sees Large Decrease in Short Interest

Carvana Co. (NYSE:CVNA) was the target of a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 13,255,405 shares, a drop of 12.6% from the February 12th total of 15,165,730 shares. Based on an average daily volume of 6,288,697 shares, the short-interest ratio is presently 2.1 days. Currently, 7.2% of the company’s stock are sold short. Currently, 7.2% of the company’s stock are sold short. Based on an average daily volume of 6,288,697 shares, the short-interest ratio is presently 2.1 days.

Insiders Place Their Bets

In related news, insider Thomas Taira sold 1,174 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $447.00, for a total value of $524,778.00. Following the completion of the sale, the insider directly owned 68,252 shares of the company’s stock, valued at $30,508,644. The trade was a 1.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Jenkins sold 12,750 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $403.02, for a total value of $5,138,505.00. Following the completion of the sale, the chief financial officer owned 204,036 shares of the company’s stock, valued at $82,230,588.72. This trade represents a 5.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 53,574 shares of company stock valued at $21,463,735. 16.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carvana

Several institutional investors have recently bought and sold shares of CVNA. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Carvana during the 4th quarter worth about $29,000. Farmers & Merchants Investments Inc. bought a new position in shares of Carvana in the fourth quarter valued at approximately $29,000. ORG Partners LLC increased its stake in shares of Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after acquiring an additional 87 shares during the period. Motiv8 Investments LLC bought a new stake in Carvana during the fourth quarter worth approximately $33,000. Finally, Salomon & Ludwin LLC raised its holdings in Carvana by 112.5% during the fourth quarter. Salomon & Ludwin LLC now owns 85 shares of the company’s stock worth $37,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Stock Performance

Carvana stock traded down $17.97 during midday trading on Wednesday, reaching $296.78. 932,907 shares of the stock traded hands, compared to its average volume of 3,982,176. Carvana has a fifty-two week low of $148.25 and a fifty-two week high of $486.89. The company has a current ratio of 4.31, a quick ratio of 2.73 and a debt-to-equity ratio of 1.15. The firm has a market cap of $64.95 billion, a price-to-earnings ratio of 36.87 and a beta of 3.60. The firm has a fifty day moving average price of $383.27 and a two-hundred day moving average price of $377.90.

Shares of Carvana are set to split before the market opens on Thursday, May 7th. The 5-1 split was announced on Friday, March 13th. The newly issued shares will be distributed to shareholders after the market closes on Wednesday, May 6th.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share for the quarter, beating the consensus estimate of $1.10 by $3.12. Carvana had a return on equity of 50.96% and a net margin of 6.92%.The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.24 billion. During the same quarter in the previous year, the business earned $0.56 EPS. The firm’s revenue for the quarter was up 58.0% on a year-over-year basis. On average, equities research analysts forecast that Carvana will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CVNA shares. Argus upgraded shares of Carvana to a “strong-buy” rating in a research report on Tuesday, March 3rd. Barclays dropped their price objective on shares of Carvana from $530.00 to $450.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. Wedbush decreased their target price on Carvana from $500.00 to $425.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Deutsche Bank Aktiengesellschaft lowered their target price on Carvana from $600.00 to $519.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Finally, Jefferies Financial Group cut their price target on Carvana from $550.00 to $485.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Carvana presently has an average rating of “Moderate Buy” and an average target price of $440.59.

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.