Carvana (NYSE:CVNA) Trading Down 5.3%

Carvana Co (NYSE:CVNA) shares dropped 5.3% on Friday . The company traded as low as $90.32 and last traded at $91.89, approximately 1,542,911 shares were traded during mid-day trading. A decline of 8% from the average daily volume of 1,671,103 shares. The stock had previously closed at $97.00.

CVNA has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Carvana from a “hold” rating to a “sell” rating in a report on Wednesday. Morgan Stanley reaffirmed an “underweight” rating and set a $30.00 target price (up previously from $29.00) on shares of Carvana in a research note on Tuesday, October 15th. Oppenheimer assumed coverage on shares of Carvana in a research note on Thursday, September 19th. They set an “outperform” rating and a $95.00 target price on the stock. Wells Fargo & Co lifted their target price on shares of Carvana from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Carvana in a research note on Thursday, September 26th. They set a “neutral” rating and a $75.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. Carvana presently has an average rating of “Hold” and a consensus target price of $82.57.

The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.92 and a current ratio of 2.16. The firm has a fifty day simple moving average of $85.73 and a 200-day simple moving average of $73.49. The company has a market capitalization of $14.70 billion, a PE ratio of -53.12 and a beta of 2.21.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.17). The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $997.46 million. Carvana had a negative return on equity of 57.46% and a negative net margin of 3.59%. Carvana’s revenue for the quarter was up 104.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.40) earnings per share. As a group, research analysts anticipate that Carvana Co will post -2.14 EPS for the current fiscal year.

In related news, COO Benjamin E. Huston sold 16,201 shares of Carvana stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $90.25, for a total value of $1,462,140.25. Following the sale, the chief operating officer now owns 11,728 shares of the company’s stock, valued at $1,058,452. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Benjamin E. Huston sold 23,199 shares of Carvana stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $90.04, for a total value of $2,088,837.96. Following the completion of the sale, the chief operating officer now directly owns 11,728 shares in the company, valued at approximately $1,055,989.12. The disclosure for this sale can be found here. Insiders sold a total of 78,931 shares of company stock worth $7,115,282 over the last 90 days. 13.02% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Resources Investment Advisors LLC. boosted its stake in shares of Carvana by 150.0% during the 2nd quarter. Resources Investment Advisors LLC. now owns 500 shares of the company’s stock valued at $31,000 after purchasing an additional 300 shares in the last quarter. Aperio Group LLC purchased a new stake in shares of Carvana during the second quarter worth approximately $75,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Carvana during the second quarter worth approximately $158,000. Strs Ohio purchased a new stake in shares of Carvana during the third quarter worth approximately $166,000. Finally, Prime Capital Investment Advisors LLC purchased a new stake in shares of Carvana during the third quarter worth approximately $172,000. Institutional investors and hedge funds own 41.49% of the company’s stock.

Carvana Company Profile (NYSE:CVNA)

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 proprietary 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.

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