Carvana (NYSE:CVNA) Shares Down 4.3% – What’s Next?

Carvana Co. (NYSE:CVNA)’s share price was down 4.3% during mid-day trading on Friday . The stock traded as low as $236.53 and last traded at $236.68. Approximately 1,011,664 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 4,811,665 shares. The stock had previously closed at $247.31.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CVNA. Wedbush lifted their target price on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Robert W. Baird boosted their price objective on Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday. Needham & Company LLC upped their target price on Carvana from $200.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday. Piper Sandler raised their target price on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Evercore ISI boosted their price target on Carvana from $186.00 to $190.00 and gave the stock an “in-line” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $208.88.

Carvana Trading Down 3.6 %

The business has a 50 day simple moving average of $172.95 and a two-hundred day simple moving average of $136.66. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. The stock has a market cap of $49.35 billion, a price-to-earnings ratio of 24,755.76 and a beta of 3.44.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. Carvana’s revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 EPS. As a group, equities analysts anticipate that Carvana Co. will post 0.26 EPS for the current year.

Insider Transactions at Carvana

In other news, Director Ira J. Platt sold 12,178 shares of Carvana stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $130.33, for a total value of $1,587,158.74. Following the completion of the transaction, the director now owns 43,229 shares in the company, valued at approximately $5,634,035.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $137.84, for a total value of $10,338,000.00. Following the sale, the insider now owns 1,240,814 shares of the company’s stock, valued at approximately $171,033,801.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ira J. Platt sold 12,178 shares of Carvana stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $130.33, for a total value of $1,587,158.74. Following the sale, the director now directly owns 43,229 shares in the company, valued at $5,634,035.57. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,705,891 shares of company stock worth $455,601,985. 17.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Carvana

Several hedge funds have recently added to or reduced their stakes in CVNA. Price T Rowe Associates Inc. MD raised its stake in Carvana by 39.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after acquiring an additional 2,112,463 shares in the last quarter. Sylebra Capital LLC bought a new stake in Carvana during the 2nd quarter valued at $67,686,000. Senator Investment Group LP bought a new stake in Carvana during the 2nd quarter valued at $63,767,000. Driehaus Capital Management LLC raised its stake in Carvana by 124.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after acquiring an additional 323,153 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Carvana during the 2nd quarter valued at $39,997,000. Institutional investors own 56.71% of the company’s stock.

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.