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.
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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
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Carvana by 12.4% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 439,402 shares of the company's stock worth $9,922,000 after purchasing an additional 48,522 shares during the last quarter. Swiss National Bank grew its stake in shares of Carvana by 23.6% in the 2nd quarter. Swiss National Bank now owns 412,205 shares of the company's stock worth $9,308,000 after purchasing an additional 78,600 shares during the last quarter. Bank of Nova Scotia acquired a new position in shares of Carvana in the 2nd quarter worth approximately $14,069,000. Compass Financial Advisors LLC grew its stake in shares of Carvana by 280.3% in the 2nd quarter. Compass Financial Advisors LLC now owns 14,113 shares of the company's stock worth $319,000 after purchasing an additional 10,402 shares during the last quarter. Finally, Baillie Gifford & Co. grew its stake in shares of Carvana by 15.0% in the 2nd quarter. Baillie Gifford & Co. now owns 10,901,629 shares of the company's stock worth $246,159,000 after purchasing an additional 1,418,746 shares during the last quarter.
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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