Carvana (NYSE:CVNA) Insider Thomas Taira Sells 5,596 Shares of Company Stock

Carvana Co. (NYSE:CVNA) insider Thomas Taira sold 5,596 shares of the stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $75.74, for a total value of $423,841.04. Following the sale, the insider owned 347,897 shares of the company’s stock, valued at approximately $26,349,718.78. The trade was a 1.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Thomas Taira also recently made the following trade(s):

• On Monday, October 12th, Thomas Taira sold 5,597 shares of Carvana stock. The shares were sold at an average price of $65.00, for a total value of $363,805.00.
• On Monday, September 14th, Thomas Taira sold 16,789 shares of Carvana stock. The stock was sold at an average price of $70.58, for a total value of $1,184,967.62.

Carvana Stock Down 4.1%

Shares of CVNA stock opened at $70.86 on Friday. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The company has a quick ratio of 2.43, a current ratio of 4.05 and a debt-to-equity ratio of 0.86. The firm has a market cap of $78.18 billion, a PE ratio of 37.08, a price-to-earnings-growth ratio of 2.51 and a beta of 3.66. The stock has a 50 day moving average of $65.81 and a 200-day moving average of $68.58.

Carvana (NYSE:CVNA) last announced its quarterly earnings data 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). Carvana had a return on equity of 34.77% and a net margin of 6.21%. The company had revenue of $8.04 billion during the quarter, compared to analyst estimates of $7.71 billion. During the same quarter in the previous year, the business posted $1.03 EPS. The company’s revenue was up 42.4% on a year-over-year basis. On average, equities analysts predict that Carvana Co. will post 1.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CVNA shares. Barclays increased their price target on shares of Carvana from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Deutsche Bank reaffirmed a “buy” rating and set a $85.00 price objective on shares of Carvana in a research report on Thursday, October 29th. Citizens Jmp upped their price objective on shares of Carvana from $83.00 to $85.00 and gave the company a “market outperform” rating in a research report on Friday, October 30th. DA Davidson reiterated a “neutral” rating and issued a $67.00 target price on shares of Carvana in a research note on Thursday, October 29th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $75.00 target price (down from $80.00) on shares of Carvana in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and an average price target of $82.09.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Lifeworks Advisors LLC raised its stake in shares of Carvana by 4,520.0% in the 3rd quarter. Lifeworks Advisors LLC now owns 153,755 shares of the company’s stock valued at $9,616,000 after buying an additional 150,427 shares in the last quarter. Benjamin Edwards Inc. boosted its position in shares of Carvana by 12.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 5,188 shares of the company’s stock valued at $324,000 after acquiring an additional 562 shares in the last quarter. State Street Corp boosted its position in shares of Carvana by 2.1% during the 3rd quarter. State Street Corp now owns 30,063,118 shares of the company’s stock valued at $1,880,147,000 after acquiring an additional 627,754 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Carvana by 115.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 445 shares of the company’s stock valued at $28,000 after acquiring an additional 238 shares in the last quarter. Finally, USS Investment Management Ltd increased its stake in Carvana by 4.6% in the third quarter. USS Investment Management Ltd now owns 177,893 shares of the company’s stock valued at $11,127,000 after acquiring an additional 7,883 shares during the period. 56.71% of the stock is owned by institutional investors.

About Carvana

Carvana Co. operates an online platform for buying and selling used cars. Customers can browse vehicle listings, arrange financing, value a trade-in, and complete much of the purchase process online. The company also offers vehicle delivery or pickup, including at some locations with its distinctive car vending machines. Founded in 2012, Carvana has expanded its operations across the United States. Its services and vehicle availability vary by market, and the company supports its online marketplace with inspection, reconditioning, and logistics operations.