Carvana (NYSE:CVNA) Shares Down 10.2% – What’s Next?

Carvana Co. (NYSE:CVNA) shares traded down 10.2% on Tuesday . The stock traded as low as $201.26 and last traded at $197.06. 1,137,363 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 4,016,196 shares. The stock had previously closed at $219.45.

Analysts Set New Price Targets

Several research firms recently commented on CVNA. Evercore ISI upped their target price on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $110.00 to $260.00 in a research report on Tuesday, November 5th. Stephens restated an “overweight” rating and set a $300.00 price objective on shares of Carvana in a research report on Monday. JPMorgan Chase & Co. raised their target price on Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Citigroup boosted their price target on shares of Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a report on Friday, February 21st. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $265.06.

Carvana Stock Down 1.8 %

The firm has a 50-day simple moving average of $233.01 and a two-hundred day simple moving average of $212.38. The stock has a market cap of $44.73 billion, a P/E ratio of 137.29 and a beta of 3.37. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Equities research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul W. Breaux sold 1,362 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the transaction, the insider now directly owns 153,240 shares of the company’s stock, valued at $41,387,059.20. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total value of $2,007,500.00. Following the completion of the sale, the chief financial officer now owns 189,097 shares in the company, valued at $37,961,222.75. The trade was a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,629 shares of company stock worth $30,866,419 in the last ninety days. 17.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CVNA. Siemens Fonds Invest GmbH acquired a new position in shares of Carvana during the fourth quarter valued at about $839,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Carvana in the fourth quarter worth approximately $36,527,000. Brucke Financial Inc. acquired a new position in shares of Carvana during the fourth quarter worth approximately $415,000. Mackenzie Financial Corp acquired a new stake in Carvana in the 4th quarter valued at $1,153,000. Finally, Toronto Dominion Bank acquired a new position in Carvana during the fourth quarter worth $3,124,000. 56.71% of the stock is owned by institutional investors.

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.