Carvana Co. (NYSE:CVNA) Insider Sells $953,287.50 in Stock

Carvana Co. (NYSE:CVNA) insider Ryan S. Keeton sold 8,250 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $115.55, for a total transaction of $953,287.50. Following the completion of the transaction, the insider now directly owns 187,256 shares of the company’s stock, valued at $21,637,430.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $121.67 on Monday. Carvana Co. has a 52-week low of $6.92 and a 52-week high of $124.20. The company has a market capitalization of $24.57 billion, a P/E ratio of 53.36 and a beta of 3.28. The company has a 50-day simple moving average of $81.81 and a 200 day simple moving average of $56.03.

Carvana (NYSE:CVNA) last issued its earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the business earned ($0.97) EPS. The business’s revenue was down 14.6% compared to the same quarter last year. As a group, equities analysts forecast that Carvana Co. will post -3.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. TD Cowen upped their target price on shares of Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. JPMorgan Chase & Co. raised shares of Carvana from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $70.00 to $130.00 in a research note on Thursday. Wells Fargo & Company upped their target price on shares of Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Thursday. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Thursday. Finally, Royal Bank of Canada increased their price objective on shares of Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Carvana currently has a consensus rating of “Hold” and a consensus price target of $73.44.

Institutional Investors Weigh In On Carvana

Several hedge funds have recently bought and sold shares of CVNA. Blue Trust Inc. bought a new position in Carvana in the 4th quarter valued at about $29,000. Hanseatic Management Services Inc. bought a new position in Carvana in the 3rd quarter valued at about $34,000. Parallel Advisors LLC raised its holdings in Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after acquiring an additional 194 shares during the period. Harvest Fund Management Co. Ltd raised its holdings in Carvana by 1,225.6% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock valued at $50,000 after acquiring an additional 1,103 shares during the period. Finally, Tidemark LLC bought a new position in Carvana in the 4th quarter valued at about $50,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

About Carvana

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.