Shares of Carvana Co (NYSE:CVNA) dropped 5.9% during trading on Tuesday . The company traded as low as $61.09 and last traded at $62.01, approximately 1,991,597 shares traded hands during mid-day trading. An increase of 16% from the average daily volume of 1,710,331 shares. The stock had previously closed at $65.90.

Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of DLH from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Cowen assumed coverage on shares of TrueCar in a research report on Monday, May 20th. They set a “hold” rating and a $7.00 target price for the company. Robert W. Baird lifted their target price on shares of Carvana from $65.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. BMO Capital Markets lifted their target price on shares of Air Products & Chemicals to $235.00 and gave the company an “outperform” rating in a research report on Monday, May 13th. Finally, Wells Fargo & Co reiterated a “buy” rating and set a $85.00 target price on shares of Carvana in a research report on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $67.92.

The company has a quick ratio of 0.56, a current ratio of 1.39 and a debt-to-equity ratio of 2.73. The business’s 50-day simple moving average is $63.05. The company has a market capitalization of $10.12 billion, a price-to-earnings ratio of -35.84 and a beta of 2.41.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.03). The company had revenue of $755.23 million for the quarter, compared to analysts’ expectations of $696.61 million. Carvana had a negative net margin of 3.54% and a negative return on equity of 30.85%. As a group, analysts expect that Carvana Co will post -1.82 EPS for the current year.

In related news, major shareholder Ernest C. Garcia II sold 52,076 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $63.77, for a total value of $3,320,886.52. Following the transaction, the insider now owns 52,937,458 shares in the company, valued at approximately $3,375,821,696.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel J. Gill sold 12,500 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $67.65, for a total transaction of $845,625.00. Following the completion of the transaction, the insider now owns 10,683 shares in the company, valued at approximately $722,704.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,032,867 shares of company stock worth $131,686,953. Company insiders own 13.02% of the company’s stock.

A number of institutional investors have recently made changes to their positions in CVNA. Keybank National Association OH lifted its stake in Carvana by 1.5% during the 1st quarter. Keybank National Association OH now owns 9,759 shares of the company’s stock valued at $567,000 after acquiring an additional 141 shares during the period. Parkside Advisors LLC lifted its stake in Carvana by 5.6% during the 1st quarter. Parkside Advisors LLC now owns 8,275 shares of the company’s stock valued at $480,000 after acquiring an additional 440 shares during the period. Valeo Financial Advisors LLC lifted its stake in Carvana by 100.0% during the 1st quarter. Valeo Financial Advisors LLC now owns 1,000 shares of the company’s stock valued at $58,000 after acquiring an additional 500 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in Carvana by 3.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 14,592 shares of the company’s stock valued at $847,000 after acquiring an additional 510 shares during the period. Finally, Chicago Capital LLC lifted its stake in Carvana by 0.4% during the 2nd quarter. Chicago Capital LLC now owns 255,173 shares of the company’s stock valued at $15,971,000 after acquiring an additional 891 shares during the period. Institutional investors own 35.88% of the company’s stock.

About Carvana (NYSE:CVNA)

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 proprietary 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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