Carvana (NYSE:CVNA) Stock Price Down 5.7%

Carvana Co. (NYSE:CVNA)’s share price traded down 5.7% during trading on Friday . The stock traded as low as $152.52 and last traded at $153.79. 53,632 shares changed hands during trading, a decline of 98% from the average session volume of 2,773,324 shares. The stock had previously closed at $163.00.

Several equities analysts have commented on the stock. DA Davidson lowered their target price on shares of Carvana from $375.00 to $355.00 and set a “neutral” rating on the stock in a research note on Friday, November 5th. Robert W. Baird reduced their price objective on shares of Carvana from $350.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, December 27th. Needham & Company LLC reduced their price objective on shares of Carvana from $421.00 to $378.00 and set a “buy” rating for the company in a research report on Friday, November 5th. JPMorgan Chase & Co. reduced their price objective on shares of Carvana from $335.00 to $270.00 and set a “neutral” rating for the company in a research report on Tuesday, December 7th. They noted that the move was a valuation call. Finally, Wells Fargo & Company reduced their price objective on shares of Carvana from $405.00 to $375.00 and set an “overweight” rating for the company in a research report on Friday, December 3rd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Carvana presently has a consensus rating of “Buy” and an average target price of $363.85.

The firm’s fifty day simple moving average is $251.52 and its 200 day simple moving average is $296.60. The company has a market capitalization of $26.55 billion, a price-to-earnings ratio of -106.02 and a beta of 2.22. The company has a debt-to-equity ratio of 4.43, a current ratio of 2.93 and a quick ratio of 1.11.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Thursday, November 4th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.10). The company had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Carvana had a negative return on equity of 10.04% and a negative net margin of 1.00%. Carvana’s revenue for the quarter was up 125.4% compared to the same quarter last year. During the same period last year, the company earned ($0.10) earnings per share. Equities research analysts forecast that Carvana Co. will post -1.42 earnings per share for the current fiscal year.

In related news, Director Neha Parikh sold 259 shares of the firm’s stock in a transaction that occurred on Wednesday, December 1st. The shares were sold at an average price of $285.00, for a total transaction of $73,815.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas Taira sold 7,033 shares of the firm’s stock in a transaction that occurred on Monday, November 8th. The shares were sold at an average price of $293.93, for a total transaction of $2,067,209.69. The disclosure for this sale can be found here. Insiders sold 17,602 shares of company stock valued at $5,167,703 over the last three months. 10.70% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of CVNA. FMR LLC raised its position in Carvana by 6.2% during the second quarter. FMR LLC now owns 6,777,631 shares of the company’s stock valued at $2,045,624,000 after acquiring an additional 397,987 shares in the last quarter. State Street Corp raised its position in shares of Carvana by 32.3% in the second quarter. State Street Corp now owns 1,522,970 shares of the company’s stock valued at $459,663,000 after purchasing an additional 372,148 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Carvana by 5.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 7,622,127 shares of the company’s stock valued at $2,300,510,000 after purchasing an additional 365,024 shares during the period. BlackRock Inc. raised its position in shares of Carvana by 8.1% in the second quarter. BlackRock Inc. now owns 4,231,861 shares of the company’s stock valued at $1,277,259,000 after purchasing an additional 316,844 shares during the period. Finally, Maverick Capital Ltd. raised its position in shares of Carvana by 61,177.8% in the second quarter. Maverick Capital Ltd. now owns 311,904 shares of the company’s stock valued at $94,139,000 after purchasing an additional 311,395 shares during the period. 97.78% of the stock is currently owned by hedge funds and other institutional investors.

About Carvana (NYSE:CVNA)

Carvana Co is a holding company and an eCommerce platform, which engages in the buying of used cars and provision of different and convenient car buying experience. It operates through the following segments: Vehicle Sales; Wholesale Vehicle Sales; and Other Sales and Revenue. The Vehicle Sales segment consists of used vehicle to customers through website.

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