Daniel J. Gill Sells 25,400 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) insider Daniel J. Gill sold 25,400 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $350.60, for a total transaction of $8,905,240.00. Following the completion of the sale, the insider now directly owns 199,756 shares in the company, valued at $70,034,453.60. This trade represents a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Carvana Stock Performance

NYSE:CVNA opened at $338.82 on Wednesday. The company’s 50-day moving average price is $263.92 and its 200-day moving average price is $239.67. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The company has a market cap of $72.55 billion, a P/E ratio of 215.81 and a beta of 3.65. Carvana Co. has a twelve month low of $100.05 and a twelve month high of $351.43.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.76. The firm had revenue of $4.23 billion for 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 company’s revenue for the quarter was up 38.3% on a year-over-year basis. During the same period last year, the firm posted $0.23 earnings per share. On average, sell-side analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carvana

Several hedge funds and other institutional investors have recently modified their holdings of CVNA. Price T Rowe Associates Inc. MD lifted its stake in shares of Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after buying an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. increased its position in Carvana by 9.7% during the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after purchasing an additional 1,109,476 shares during the last quarter. Norges Bank acquired a new stake in Carvana during the fourth quarter worth about $179,364,000. Castle Hook Partners LP acquired a new stake in Carvana during the fourth quarter worth about $116,020,000. Finally, BNP Paribas Financial Markets increased its position in Carvana by 89.8% during the fourth quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company’s stock worth $207,086,000 after purchasing an additional 481,912 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on CVNA. Citigroup raised their price target on shares of Carvana from $280.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. DA Davidson raised their price target on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Piper Sandler set a $340.00 price target on shares of Carvana and gave the company an “overweight” rating in a research report on Thursday, May 22nd. Stephens restated an “overweight” rating and set a $300.00 price target on shares of Carvana in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $280.35.

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.