Carvana (NYSE:CVNA) Director Michael Maroone Buys 25,000 Shares of Stock

Carvana Co. (NYSE:CVNA) Director Michael Maroone acquired 25,000 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was acquired at an average cost of $61.80 per share, with a total value of $1,545,000.00. Following the transaction, the director directly owned 168,573 shares of the company’s stock, valued at approximately $10,417,811.40. This represents a 17.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Carvana Trading Up 2.7%

Shares of CVNA opened at $67.91 on Wednesday. The stock has a market cap of $74.49 billion, a PE ratio of 37.56, a P/E/G ratio of 2.44 and a beta of 3.46. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The stock’s 50-day moving average is $66.77 and its two-hundred day moving average is $70.27.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.39 by $0.03. The firm had revenue of $7.38 billion for the quarter, compared to analyst estimates of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.Carvana’s revenue for the quarter was up 52.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 EPS. Equities analysts forecast that Carvana Co. will post 1.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Morgan Stanley set a $90.00 price target on shares of Carvana and gave the company an “overweight” rating in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Carvana in a research report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $80.00 target price on shares of Carvana in a report on Friday. Zacks Research downgraded Carvana from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Finally, Argus lowered their target price on Carvana from $500.00 to $100.00 in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.14.

Trending Headlines about Carvana

Here are the key news stories impacting Carvana this week:

• Positive Sentiment: Director Michael E. Maroone purchased 25,000 shares worth approximately $1.55 million, increasing his direct ownership by 17.41%. The purchase may signal confidence in Carvana’s long-term prospects. SEC insider purchase filing

Hedge Funds Weigh In On Carvana

Several institutional investors have recently modified their holdings of CVNA. Sands Capital Management LLC lifted its position in Carvana by 44.4% in the 4th quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company’s stock valued at $1,030,798,000 after purchasing an additional 751,019 shares during the last quarter. Capricorn Fund Managers Ltd bought a new position in Carvana in the 1st quarter worth about $29,866,000. Gavilan Investment Partners LLC increased its stake in shares of Carvana by 24.6% in the fourth quarter. Gavilan Investment Partners LLC now owns 86,000 shares of the company’s stock valued at $36,294,000 after purchasing an additional 17,000 shares during the period. Hsbc Holdings PLC increased its stake in shares of Carvana by 239.6% in the fourth quarter. Hsbc Holdings PLC now owns 221,727 shares of the company’s stock valued at $93,748,000 after purchasing an additional 156,430 shares during the period. Finally, Swiss National Bank increased its stake in shares of Carvana by 9.9% in the first quarter. Swiss National Bank now owns 395,180 shares of the company’s stock valued at $124,237,000 after purchasing an additional 35,720 shares during the period. Institutional investors own 56.71% of the company’s stock.

About Carvana

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.