Insider Selling: Carvana Co. (NYSE:CVNA) Insider Sells 70,166 Shares of Stock

Carvana Co. (NYSE:CVNA) insider Daniel J. Gill sold 70,166 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $281.43, for a total transaction of $19,746,817.38. Following the transaction, the insider now owns 201,087 shares of the company’s stock, valued at approximately $56,591,914.41. The trade was a 25.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Carvana Stock Up 4.8%

Shares of NYSE CVNA opened at $293.00 on Wednesday. Carvana Co. has a 52 week low of $97.55 and a 52 week high of $299.00. The company has a market cap of $62.46 billion, a P/E ratio of 186.62 and a beta of 3.61. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The business has a 50-day simple moving average of $213.32 and a two-hundred day simple moving average of $228.39.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.75 by $0.76. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same period last year, the firm earned $0.23 EPS. Research analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carvana

Institutional investors and hedge funds have recently made changes to their positions in the business. Northern Trust Corp increased its stake in Carvana by 5.4% in the 1st quarter. Northern Trust Corp now owns 685,864 shares of the company’s stock worth $143,400,000 after acquiring an additional 35,168 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after purchasing an additional 125 shares in the last quarter. Berkshire Capital Holdings Inc. increased its position in shares of Carvana by 632,200.0% in the first quarter. Berkshire Capital Holdings Inc. now owns 63,230 shares of the company’s stock worth $13,220,000 after purchasing an additional 63,220 shares during the last quarter. Roberts Capital Advisors LLC purchased a new stake in Carvana in the first quarter valued at approximately $573,000. Finally, Cresset Asset Management LLC raised its stake in Carvana by 32.2% in the first quarter. Cresset Asset Management LLC now owns 3,347 shares of the company’s stock valued at $700,000 after purchasing an additional 816 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CVNA. DA Davidson boosted their target price on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Royal Bank of Canada lifted their price target on shares of Carvana from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Needham & Company LLC reiterated a “buy” rating and issued a $340.00 price objective on shares of Carvana in a research note on Thursday, May 8th. Evercore ISI decreased their target price on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, March 11th. Finally, Wells Fargo & Company upped their price target on Carvana from $290.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $268.59.

Carvana Company Profile

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.