Shares of Carvana Co. (NYSE:CVNA – Get Rating) fell 12% on Tuesday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $54.00 to $42.00. The stock traded as low as $40.58 and last traded at $40.90. 167,949 shares changed hands during trading, a decline of 99% from the average session volume of 12,423,242 shares. The stock had previously closed at $46.46.

Several other research analysts have also weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Carvana from $65.00 to $35.00 and set an "equal weight" rating for the company in a report on Wednesday, June 8th. Truist Financial decreased their price objective on shares of Carvana from $160.00 to $80.00 and set a "na" rating for the company in a report on Monday, May 16th. Northcoast Research began coverage on shares of Carvana in a report on Monday, April 11th. They set a "neutral" rating for the company. Cowen reduced their price target on shares of Carvana from $142.00 to $95.00 in a research report on Saturday. Finally, JMP Securities began coverage on shares of Carvana in a research report on Thursday, June 30th. They issued a "buy" rating and a $35.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $79.76.

Insider Activity at Carvana

In other news, insider Paul W. Breaux acquired 14,000 shares of the business's stock in a transaction that occurred on Tuesday, May 31st. The shares were purchased at an average cost of $31.09 per share, for a total transaction of $435,260.00. Following the transaction, the insider now directly owns 78,240 shares in the company, valued at approximately $2,432,481.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director J Danforth Quayle purchased 18,750 shares of the company's stock in a transaction on Tuesday, May 17th. The shares were bought at an average cost of $39.14 per share, for a total transaction of $733,875.00. Following the transaction, the director now owns 12,500 shares of the company's stock, valued at $489,250. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul W. Breaux purchased 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, for a total transaction of $435,260.00. Following the completion of the transaction, the insider now directly owns 78,240 shares in the company, valued at approximately $2,432,481.60. The disclosure for this purchase can be found here. Insiders have bought a total of 2,197,008 shares of company stock worth $47,538,049 in the last ninety days. 17.67% of the stock is owned by insiders.

Institutional Trading of Carvana

Carvana Price Performance

The company's 50 day moving average price is $26.66 and its 200-day moving average price is $76.91. The company has a market cap of $7.17 billion, a price-to-earnings ratio of -6.24 and a beta of 2.69. 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 (NYSE:CVNA – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($2.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.75) by ($0.60). The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.99 billion. Carvana had a negative return on equity of 144.51% and a negative net margin of 4.24%. The business's revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS. On average, equities research analysts forecast that Carvana Co. will post -7.17 earnings per share for the current fiscal year.

Carvana Company Profile

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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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