Carvana (CVNA) Trading Up 5.7% After Insider Buying Activity

Carvana Co (NYSE:CVNA) shares were up 5.7% during mid-day trading on Thursday after an insider bought additional shares in the company. The stock traded as high as $48.69 and last traded at $47.85. Approximately 986,950 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 1,051,967 shares. The stock had previously closed at $45.25.

Specifically, major shareholder Ddfs Partnership Lp sold 896,542 shares of the business’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $64.93, for a total value of $58,212,472.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 13,249 shares of the business’s stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $57.39, for a total transaction of $760,360.11. Following the completion of the sale, the insider now directly owns 52,937,458 shares of the company’s stock, valued at $3,038,080,714.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,771,286 shares of company stock valued at $165,152,481. 21.41% of the stock is owned by corporate insiders.

Several research firms have recently commented on CVNA. Barrington Research restated a “buy” rating on shares of Carvana in a report on Monday, November 5th. Zacks Investment Research lowered shares of Carvana from a “hold” rating to a “sell” rating in a report on Monday, August 13th. Robert W. Baird boosted their price target on shares of Carvana from $53.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, August 9th. Citigroup boosted their price target on shares of Carvana from $60.00 to $67.00 and gave the company an “average” rating in a report on Thursday, August 9th. Finally, Craig Hallum set a $48.00 price target on shares of Carvana and gave the company a “hold” rating in a report on Thursday, August 9th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $59.14.



The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.30 and a current ratio of 2.04. The firm has a market cap of $6.16 billion, a P/E ratio of -39.55 and a beta of 2.13.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp bought a new position in shares of Carvana during the 3rd quarter worth approximately $157,000. First Mercantile Trust Co. bought a new position in shares of Carvana during the 2nd quarter worth approximately $122,000. Global X Management Co LLC bought a new position in shares of Carvana during the 2nd quarter worth approximately $124,000. Credit Suisse AG bought a new position in shares of Carvana during the 3rd quarter worth approximately $201,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Carvana during the 3rd quarter worth approximately $214,000. Hedge funds and other institutional investors own 25.85% 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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