Carvana (NYSE:CVNA) Insider Daniel Gill Sells 253,639 Shares of Company Stock

Carvana Co. (NYSE:CVNA) insider Daniel Gill sold 253,639 shares of the company’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $71.46, for a total value of $18,125,042.94. Following the completion of the transaction, the insider owned 773,548 shares of the company’s stock, valued at $55,277,740.08. The trade was a 24.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Carvana Stock Down 0.9%

Shares of CVNA stock opened at $71.38 on Wednesday. Carvana Co. has a one year low of $54.46 and a one 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. The stock has a fifty day moving average price of $65.81 and a 200 day moving average price of $69.20. The stock 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.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Carvana in a research note on Thursday, October 29th. Evercore set a $75.00 price target on shares of Carvana in a research report on Thursday, July 30th. Zacks Research cut shares of Carvana from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Morgan Stanley reaffirmed an “overweight” rating on shares of Carvana in a report on Thursday, October 29th. Finally, Stephens reiterated an “overweight” rating and issued a $83.00 price objective (down from $91.50) on shares of Carvana in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $82.09.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CVNA. Provenance Wealth Advisors LLC bought a new stake in shares of Carvana in the 3rd quarter worth about $25,000. Ascentis Independent Advisors acquired a new stake in shares of Carvana during the 1st quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Carvana by 152.6% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after purchasing an additional 58 shares during the last quarter. Transamerica Financial Advisors LLC lifted its holdings in Carvana by 558.0% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company’s stock valued at $30,000 after purchasing an additional 385 shares during the last quarter. Finally, GoalVest Advisory LLC lifted its holdings in Carvana by 400.0% during the 2nd quarter. GoalVest Advisory LLC now owns 500 shares of the company’s stock valued at $33,000 after purchasing an additional 400 shares during the last quarter. 56.71% of the stock is owned by institutional investors.

Key Carvana News

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.