Carvana (NYSE:CVNA) Trading Down 9.5% – Here’s Why

Carvana Co. (NYSE:CVNA) shares were down 9.5% during trading on Monday . The stock traded as low as $170.11 and last traded at $170.50. Approximately 1,037,508 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 3,812,941 shares. The stock had previously closed at $188.47.

Analyst Upgrades and Downgrades

Several analysts have commented on CVNA shares. Needham & Company LLC reissued a “buy” rating and issued a $340.00 price objective on shares of Carvana in a report on Friday, March 7th. JMP Securities reissued a “market outperform” rating and issued a $320.00 price objective on shares of Carvana in a report on Monday, December 16th. Wells Fargo & Company dropped their price objective on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Citigroup raised their price objective on Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Stephens reissued an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a report on Monday, March 3rd. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $265.65.

Carvana Stock Performance

The stock has a market cap of $36.76 billion, a PE ratio of 109.83 and a beta of 3.56. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The stock has a 50-day moving average of $230.01 and a 200 day moving average of $213.89.

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

Insider Buying and Selling

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the sale, the insider now owns 153,240 shares in the company, valued at $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction 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. This represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 94,629 shares of company stock worth $24,758,919. 17.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVNA. Sigma Planning Corp purchased a new stake in Carvana in the third quarter valued at $228,000. Axxcess Wealth Management LLC acquired a new stake in shares of Carvana in the third quarter valued at $784,000. State of New Jersey Common Pension Fund D grew its stake in shares of Carvana by 5.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 39,281 shares of the company’s stock valued at $6,839,000 after buying an additional 2,004 shares in the last quarter. Entropy Technologies LP grew its stake in shares of Carvana by 428.5% in the third quarter. Entropy Technologies LP now owns 23,541 shares of the company’s stock valued at $4,099,000 after buying an additional 19,087 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Carvana in the third quarter valued at $439,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.