Carvana (CVNA) Trading Down 1%

Carvana Co (NYSE:CVNA)’s share price fell 1% on Thursday . The stock traded as low as $37.94 and last traded at $38.00. 83,395 shares were traded during mid-day trading, a decline of 95% from the average session volume of 1,696,466 shares. The stock had previously closed at $38.40.

CVNA has been the subject of a number of research analyst reports. Craig Hallum reduced their price target on Carvana from $48.00 to $40.00 and set a “hold” rating for the company in a report on Tuesday. JMP Securities lifted their price objective on shares of Carvana from $35.00 to $63.00 and gave the company a “market outperform” rating in a research note on Thursday, August 9th. Zacks Investment Research raised shares of Carvana from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Barrington Research reaffirmed a “buy” rating and set a $50.00 target price on shares of Carvana in a research note on Thursday, August 9th. Finally, Citigroup boosted their price objective on shares of Carvana from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, September 11th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Carvana presently has an average rating of “Buy” and an average target price of $58.41.

The stock has a market cap of $5.53 billion, a PE ratio of -31.88 and a beta of 2.11. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.30 and a current ratio of 2.04.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, November 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.03). Carvana had a negative return on equity of 35.13% and a negative net margin of 5.01%. The firm had revenue of $535.00 million during the quarter, compared to analysts’ expectations of $509.09 million. During the same period last year, the firm posted ($0.29) earnings per share. The firm’s quarterly revenue was up 137.8% on a year-over-year basis. On average, analysts anticipate that Carvana Co will post -1.61 EPS for the current year.

In related news, major shareholder Ernest C. Garcia II sold 114,274 shares of the company’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $47.47, for a total transaction of $5,424,586.78. Following the sale, the insider now owns 52,937,458 shares of the company’s stock, valued at $2,512,941,131.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Ddfs Partnership Lp sold 896,542 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $64.93, for a total transaction of $58,212,472.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,084,028 shares of company stock valued at $179,700,231. Company insiders own 21.69% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Commonwealth Equity Services LLC purchased a new position in shares of Carvana in the 2nd quarter valued at approximately $437,000. First Trust Advisors LP acquired a new stake in Carvana during the 2nd quarter worth $4,838,000. Fiera Capital Corp acquired a new stake in Carvana during the 2nd quarter worth $1,082,000. Frontier Capital Management Co. LLC acquired a new stake in Carvana during the 2nd quarter worth $43,726,000. Finally, Sei Investments Co. raised its holdings in shares of Carvana by 67,062.9% during the 2nd quarter. Sei Investments Co. now owns 23,507 shares of the company’s stock worth $978,000 after acquiring an additional 23,472 shares during the period. Institutional investors own 26.61% of the company’s stock.

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Carvana Company Profile (NYSE:CVNA)

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

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