Insider Selling: Carvana Co. (NYSE:CVNA) Director Sells $6,107,500.00 in Stock

Carvana Co. (NYSE:CVNA) Director Ira J. Platt sold 25,000 shares of Carvana stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $244.30, for a total value of $6,107,500.00. Following the transaction, the director now owns 5,227 shares in the company, valued at $1,276,956.10. This trade represents a 82.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Carvana Price Performance

Shares of CVNA opened at $248.25 on Friday. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The company’s fifty day simple moving average is $228.64 and its 200 day simple moving average is $168.91. Carvana Co. has a 1-year low of $40.21 and a 1-year high of $268.34. The company has a market cap of $51.54 billion, a price-to-earnings ratio of 24,825.00 and a beta of 3.32.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the company posted $0.23 earnings per share. The firm’s revenue for the quarter was up 31.8% compared to the same quarter last year. On average, research analysts forecast that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lord Abbett & CO. LLC raised its stake in Carvana by 1,454.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock valued at $93,754,000 after acquiring an additional 503,824 shares during the period. Optimist Retirement Group LLC acquired a new position in shares of Carvana in the third quarter valued at $289,000. Wilmington Savings Fund Society FSB bought a new position in shares of Carvana in the third quarter valued at about $241,000. World Investment Advisors LLC acquired a new stake in shares of Carvana during the 3rd quarter worth about $2,009,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Carvana during the 3rd quarter worth about $312,000. 56.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on CVNA. Evercore ISI lifted their price target on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Piper Sandler increased their target price on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. JMP Securities boosted their price target on Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Finally, Stephens began coverage on Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Carvana has a consensus rating of “Hold” and an average price target of $222.71.

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.