Carvana (NYSE:CVNA) Shares Down 3%

Carvana Co. (NYSE:CVNA)’s share price dropped 3% during mid-day trading on Thursday . The company traded as low as $77.52 and last traded at $78.13. Approximately 833,659 shares traded hands during trading, a decline of 87% from the average daily volume of 6,251,386 shares. The stock had previously closed at $80.52.

Wall Street Analysts Forecast Growth

CVNA has been the topic of a number of recent analyst reports. Royal Bank of Canada raised Carvana from an “underperform” rating to a “sector perform” rating and boosted their target price for the stock from $45.00 to $90.00 in a research report on Friday, March 8th. Wedbush lifted their price target on Carvana from $40.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, February 20th. Raymond James upgraded Carvana from an “underperform” rating to a “market perform” rating in a report on Friday, February 23rd. Jefferies Financial Group upgraded Carvana from an “underperform” rating to a “hold” rating and lifted their price target for the company from $30.00 to $85.00 in a report on Tuesday, March 12th. Finally, JMP Securities lifted their price target on Carvana from $60.00 to $80.00 and gave the company a “market outperform” rating in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $50.60.

Carvana Trading Down 6.7 %

The firm has a fifty day simple moving average of $73.08 and a 200 day simple moving average of $51.31. The stock has a market cap of $15.15 billion, a price-to-earnings ratio of 138.95 and a beta of 3.32.

Carvana (NYSE:CVNA) last issued its earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period in the previous year, the firm posted ($0.97) earnings per share. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, equities analysts expect that Carvana Co. will post -3.4 earnings per share for the current year.

Insider Transactions at Carvana

In other news, insider Paul W. Breaux sold 15,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $69.00, for a total value of $1,035,000.00. Following the completion of the transaction, the insider now directly owns 150,126 shares of the company’s stock, valued at approximately $10,358,694. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Thomas Taira sold 4,197 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $82.84, for a total transaction of $347,679.48. Following the sale, the insider now directly owns 164,827 shares in the company, valued at approximately $13,654,268.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul W. Breaux sold 15,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $69.00, for a total value of $1,035,000.00. Following the sale, the insider now owns 150,126 shares in the company, valued at $10,358,694. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,883 shares of company stock valued at $11,498,678. Corporate insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Carvana by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock worth $393,268,000 after acquiring an additional 62,820 shares during the last quarter. Blue Trust Inc. bought a new position in Carvana in the 4th quarter valued at $29,000. Quantbot Technologies LP bought a new position in Carvana in the 3rd quarter valued at $2,879,000. Charles Schwab Investment Management Inc. boosted its position in Carvana by 56.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock valued at $32,684,000 after buying an additional 280,851 shares during the last quarter. Finally, TD Asset Management Inc bought a new position in Carvana in the 3rd quarter valued at $22,906,000. 56.71% of the stock is currently owned by institutional investors.

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.