Carvana (NYSE:CVNA) Director J Danforth Quayle Sells 14,520 Shares of Company Stock

Carvana Co. (NYSE:CVNA) Director J Quayle sold 14,520 shares of the firm’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $68.88, for a total value of $1,000,137.60. Following the sale, the director directly owned 214,960 shares in the company, valued at approximately $14,806,444.80. This represents a 6.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

J Danforth Quayle also recently made the following trade(s):

• On Friday, August 14th, J Quayle sold 14,525 shares of Carvana stock. The stock was sold at an average price of $75.00, for a total value of $1,089,375.00.

Carvana Trading Down 0.9%

Shares of CVNA opened at $71.38 on Wednesday. The firm has a market cap of $78.55 billion, a P/E ratio of 36.15, a price-to-earnings-growth ratio of 1.85 and a beta of 3.66. The company has a 50 day simple moving average of $65.81 and a two-hundred day simple moving average of $69.20. Carvana Co. has a 1 year low of $54.46 and a 1 year high of $97.38. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.05 and a quick ratio of 2.43.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.05). Carvana had a net margin of 6.21% and a return on equity of 34.77%. The company had revenue of $8.04 billion for the quarter, compared to the consensus estimate of $7.71 billion. During the same period last year, the company earned $1.03 EPS. The firm’s revenue for the quarter was up 42.4% on a year-over-year basis. On average, equities analysts expect that Carvana Co. will post 1.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Carvana by 417.1% in the 2nd quarter. State Street Corp now owns 29,435,364 shares of the company’s stock worth $1,937,436,000 after buying an additional 23,742,422 shares during the period. Spruce House Investment Management LLC grew its holdings in Carvana by 2.6% during the 1st quarter. Spruce House Investment Management LLC now owns 2,335,000 shares of the company’s stock worth $734,077,000 after acquiring an additional 60,000 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Carvana by 2.4% during the first quarter. Bank of New York Mellon Corp now owns 710,264 shares of the company’s stock valued at $223,293,000 after buying an additional 16,692 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Carvana by 345.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company’s stock worth $218,867,000 after buying an additional 2,579,295 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Carvana by 10.4% during the first quarter. Dimensional Fund Advisors LP now owns 604,729 shares of the company’s stock worth $190,009,000 after buying an additional 57,040 shares during the period. Institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Carvana in a research note on Thursday, October 29th. Evercore set a $75.00 price target on Carvana in a report on Thursday, July 30th. UBS Group reaffirmed a “buy” rating and set a $84.00 price objective (up from $83.00) on shares of Carvana in a research note on Thursday, October 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $85.00 price objective on shares of Carvana in a research note on Thursday, October 29th. Finally, Bank of America reiterated a “neutral” rating on shares of Carvana in a report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Carvana has a consensus rating of “Moderate Buy” and an average target price of $82.09.

Trending Headlines about Carvana

Here are the key news stories impacting Carvana this week:

• Neutral Sentiment: CFO Mark Jenkins sold 63,750 shares and VP Stephen Palmer sold 5,000 shares. Both transactions were made under pre-arranged Rule 10b5-1 plans, which can make them less indicative of a change in the executives’ outlook. Jenkins SEC filing Palmer SEC filing
• Negative Sentiment: Other reported sales included insider Daniel Gill’s 253,639 shares, plus sales by directors J. Quayle and Ira Platt. The sales add to concerns about insider sentiment, although the filings do not establish the sellers’ reasons. Gill SEC filing
• Negative Sentiment: Analysts trimmed growth assumptions, resulting in a lower fair-value estimate for Carvana. This could weigh on the stock by tempering expectations for future performance. Carvana fair-value article

Carvana Company Profile

Carvana Co (NYSE: CVNA) is an online automotive retailer that sells used vehicles through its digital platform. Customers can browse vehicles, review detailed descriptions and vehicle history information, arrange financing, complete transactions online and choose home delivery or pickup at a Carvana location.

The company also provides vehicle trade-in services and offers related products, including vehicle protection plans and other automotive services. Carvana is known for its automated, glass-enclosed vehicle vending machines, which provide an alternative pickup experience in select markets.

Founded in 2012 and headquartered in Tempe, Arizona, Carvana began operations as an online used-car retailer in 2013 and went public in 2017.