Insider Buying: Carvana Co. (NYSE:CVNA) Insider Purchases 14,000 Shares of Stock

Carvana Co. (NYSE:CVNA – Get Rating) insider Paul W. Breaux bought 14,000 shares of the company’s stock in a transaction on Tuesday, May 31st. The shares were bought at an average price of $31.09 per share, with a total value of $435,260.00. Following the completion of the transaction, the insider now owns 78,240 shares of the company’s stock, valued at $2,432,481.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of NYSE CVNA traded up $3.59 during mid-day trading on Thursday, hitting $30.08. The stock had a trading volume of 11,653,223 shares, compared to its average volume of 7,238,790. The company has a debt-to-equity ratio of 63.19, a quick ratio of 0.47 and a current ratio of 1.36. Carvana Co. has a 1 year low of $25.26 and a 1 year high of $376.83. The business has a 50 day moving average price of $71.38 and a two-hundred day moving average price of $147.02. The firm has a market cap of $5.20 billion, a P/E ratio of -7.46 and a beta of 2.61.

Carvana (NYSE:CVNA – Get Rating) last issued its quarterly earnings data on Wednesday, April 20th. The company reported ($2.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.17). The company had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.37 billion. Carvana had a negative net margin of 2.55% and a negative return on equity of 69.88%. The firm’s revenue for the quarter was up 55.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.46) earnings per share. Equities research analysts predict that Carvana Co. will post -6.75 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. increased its position in Carvana by 1.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 2,863 shares of the company’s stock valued at $863,000 after purchasing an additional 39 shares during the period. United Capital Financial Advisers LLC boosted its holdings in shares of Carvana by 0.3% during the 3rd quarter. United Capital Financial Advisers LLC now owns 12,153 shares of the company’s stock valued at $3,665,000 after buying an additional 40 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Carvana by 8.8% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 740 shares of the company’s stock valued at $223,000 after buying an additional 60 shares in the last quarter. Lloyd Advisory Services LLC. boosted its holdings in shares of Carvana by 66.3% during the 4th quarter. Lloyd Advisory Services LLC. now owns 173 shares of the company’s stock valued at $40,000 after buying an additional 69 shares in the last quarter. Finally, abrdn plc boosted its holdings in shares of Carvana by 1.2% during the 4th quarter. abrdn plc now owns 6,497 shares of the company’s stock valued at $1,506,000 after buying an additional 76 shares in the last quarter.

Several equities research analysts have issued reports on CVNA shares. Robert W. Baird dropped their target price on shares of Carvana from $125.00 to $65.00 in a research report on Wednesday, May 11th. Bank of America dropped their target price on shares of Carvana from $225.00 to $80.00 in a research report on Thursday, May 19th. Piper Sandler dropped their target price on shares of Carvana from $130.00 to $98.00 and set a “neutral” rating for the company in a research report on Thursday, April 21st. Jefferies Financial Group lowered shares of Carvana from a “buy” rating to a “hold” rating and dropped their target price for the company from $150.00 to $40.00 in a research report on Friday, May 13th. Finally, Wells Fargo & Company lowered shares of Carvana from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $150.00 to $65.00 in a research report on Tuesday, May 3rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $143.74.

Carvana Company Profile (Get Rating)

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. The company's 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.

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