Carvana (NYSE:CVNA) Stock Price Down 6.1% After Insider Selling

Carvana Co. (NYSE:CVNA)’s share price fell 6.1% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $176.77 and last traded at $175.15. 636,863 shares were traded during mid-day trading, a decline of 83% from the average session volume of 3,819,001 shares. The stock had previously closed at $186.50.

Specifically, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the transaction, the chief operating officer now directly owns 196,278 shares of the company’s stock, valued at $35,033,660.22. The trade was a 20.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CVNA. Citigroup lifted their target price on Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, February 21st. DA Davidson lifted their target price on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Stephens reaffirmed an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research report on Monday, March 3rd. Wells Fargo & Company decreased their price objective on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Carvana from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Carvana has a consensus rating of “Moderate Buy” and a consensus price target of $262.71.

Carvana Stock Performance

The firm has a 50 day moving average of $228.89 and a two-hundred day moving average of $214.54. The stock has a market cap of $37.34 billion, a PE ratio of 111.56 and a beta of 3.56. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Research analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Sigma Planning Corp acquired a new position in Carvana during the third quarter worth $228,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in Carvana during the third quarter worth $439,000. KBC Group NV grew its holdings in Carvana by 23.1% during the third quarter. KBC Group NV now owns 2,866 shares of the company’s stock worth $499,000 after acquiring an additional 538 shares during the period. CIBC Asset Management Inc grew its holdings in Carvana by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,366 shares of the company’s stock worth $586,000 after acquiring an additional 115 shares during the period. Finally, Empowered Funds LLC acquired a new position in Carvana during the third quarter worth $494,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.