Carvana (NYSE:CVNA) Stock Price Down 4.6%

Carvana Co. (NYSE:CVNA) shares traded down 4.6% on Thursday . The stock traded as low as $86.05 and last traded at $86.17. 2,273,159 shares changed hands during trading, a decline of 66% from the average session volume of 6,779,794 shares. The stock had previously closed at $90.31.

Analyst Ratings Changes

Several equities research analysts have commented on CVNA shares. Morgan Stanley upped their price objective on shares of Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, February 26th. Raymond James raised shares of Carvana from an “underperform” rating to a “market perform” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. raised shares of Carvana from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $25.00 to $40.00 in a report on Monday, December 4th. Evercore ISI increased their price target on shares of Carvana from $68.00 to $75.00 and gave the stock an “in-line” rating in a report on Tuesday. Finally, William Blair raised shares of Carvana from a “market perform” rating to an “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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $50.40.

Carvana Trading Down 2.7 %

The stock has a market capitalization of $17.74 billion, a P/E ratio of 167.23 and a beta of 3.32. The business has a 50-day moving average price of $63.65 and a 200 day moving average price of $48.38.

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

Insiders Place Their Bets

In related news, CFO Mark W. Jenkins sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $79.37, for a total transaction of $396,850.00. Following the sale, the chief financial officer now owns 183,156 shares of the company’s stock, valued at $14,537,091.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Stephen R. Palmer sold 4,515 shares of Carvana stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $49.57, for a total transaction of $223,808.55. Following the completion of the transaction, the vice president now directly owns 69,108 shares in the company, valued at $3,425,683.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark W. Jenkins sold 5,000 shares of Carvana stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $79.37, for a total value of $396,850.00. Following the transaction, the chief financial officer now owns 183,156 shares of the company’s stock, valued at $14,537,091.72. The disclosure for this sale can be found here. Insiders have sold a total of 59,515 shares of company stock worth $4,620,659 over the last quarter. Company insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Institutional investors and hedge funds have recently made changes to their positions in the business. 1832 Asset Management L.P. acquired a new stake in shares of Carvana in the first quarter worth approximately $59,000. Blue Trust Inc. acquired a new position in Carvana during the fourth quarter worth $29,000. Parallel Advisors LLC boosted its stake in Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after buying an additional 194 shares during the last quarter. Hanseatic Management Services Inc. acquired a new position in Carvana during the third quarter worth $34,000. Finally, Studio Investment Management LLC acquired a new position in Carvana during the fourth quarter worth $47,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

About Carvana

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.