Carvana (NYSE:CVNA) Stock Price Down 7.4%

Carvana Co (NYSE:CVNA) fell 7.4% during mid-day trading on Tuesday . The company traded as low as $84.06 and last traded at $86.02, 4,238,058 shares changed hands during trading. An increase of 147% from the average session volume of 1,718,471 shares. The stock had previously closed at $92.87.

A number of brokerages recently issued reports on CVNA. Oppenheimer began coverage on shares of Carvana in a research report on Thursday, September 19th. They set an “outperform” rating and a $95.00 price target for the company. Wells Fargo & Co lifted their target price on shares of Carvana from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. ValuEngine raised shares of Carvana from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Benchmark started coverage on shares of Carvana in a report on Thursday, January 9th. They issued a “hold” rating for the company. Finally, Citigroup lifted their target price on shares of Carvana from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $84.36.

The company has a quick ratio of 0.92, a current ratio of 2.16 and a debt-to-equity ratio of 2.78. The firm has a market capitalization of $13.85 billion, a PE ratio of -49.72 and a beta of 2.13. The firm’s fifty day simple moving average is $92.80 and its 200-day simple moving average is $78.56.

Carvana (NYSE:CVNA) last issued its earnings results 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 firm had revenue of $1.09 billion during 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%. The firm’s quarterly revenue was up 104.7% on a year-over-year basis. During the same period last year, the firm posted ($0.40) earnings per share. As a group, analysts predict that Carvana Co will post -2.15 earnings per share for the current year.

In other news, Director Ira J. Platt sold 734 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $87.50, for a total transaction of $64,225.00. Following the completion of the transaction, the director now directly owns 23,115 shares of the company’s stock, valued at $2,022,562.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 4,812 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $90.04, for a total transaction of $433,272.48. Following the transaction, the chief financial officer now directly owns 11,720 shares of the company’s stock, valued at $1,055,268.80. The disclosure for this sale can be found here. Insiders have sold 78,931 shares of company stock valued at $7,115,282 over the last three months. 13.02% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Douglass Winthrop Advisors LLC purchased a new position in shares of Carvana during the fourth quarter valued at approximately $276,000. Gilder Gagnon Howe & Co. LLC grew its position in Carvana by 202.8% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 872,918 shares of the company’s stock valued at $57,613,000 after buying an additional 584,622 shares during the period. JS Capital Management LLC grew its position in Carvana by 64.3% during the third quarter. JS Capital Management LLC now owns 402,649 shares of the company’s stock valued at $26,575,000 after buying an additional 157,649 shares during the period. Lansing Management LP grew its position in Carvana by 20.0% during the third quarter. Lansing Management LP now owns 221,140 shares of the company’s stock valued at $14,595,000 after buying an additional 36,900 shares during the period. Finally, Squarepoint Ops LLC grew its position in Carvana by 96.1% during the third quarter. Squarepoint Ops LLC now owns 64,236 shares of the company’s stock valued at $4,240,000 after buying an additional 31,487 shares during the period. 41.49% of the stock is owned by hedge funds and other institutional investors.

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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