Carvana (NYSE:CVNA) Insider Sells $4,000,000.00 in Stock

Carvana Co. (NYSE:CVNA) insider Ryan Keeton sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $400.00, for a total transaction of $4,000,000.00. Following the completion of the sale, the insider owned 74,460 shares in the company, valued at $29,784,000. This represents a 11.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Carvana Stock Up 1.0%

Shares of CVNA traded up $4.10 during midday trading on Thursday, hitting $399.10. 2,364,886 shares of the company’s stock traded hands, compared to its average volume of 3,779,684. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $86.82 billion, a price-to-earnings ratio of 91.12, a price-to-earnings-growth ratio of 1.38 and a beta of 3.51. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $413.33. The firm’s fifty day moving average is $345.36 and its 200-day moving average is $344.35.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.26). The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. The business’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. As a group, sell-side analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Institutional Investors Weigh In On Carvana

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC lifted its holdings in shares of Carvana by 1,950.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 111,190 shares of the company’s stock valued at $37,467,000 after buying an additional 105,768 shares during the last quarter. Berkshire Capital Holdings Inc. raised its position in Carvana by 632,200.0% during the first quarter. Berkshire Capital Holdings Inc. now owns 63,230 shares of the company’s stock valued at $13,220,000 after acquiring an additional 63,220 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Carvana by 6.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 490,874 shares of the company’s stock valued at $102,632,000 after acquiring an additional 27,912 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Carvana in the second quarter valued at approximately $183,102,000. Finally, Vanguard Group Inc. grew its position in Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after acquiring an additional 1,109,476 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CVNA shares. JPMorgan Chase & Co. raised their target price on shares of Carvana from $425.00 to $490.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Wall Street Zen downgraded Carvana from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. Royal Bank Of Canada reissued an “outperform” rating and issued a $460.00 price objective on shares of Carvana in a report on Thursday, October 30th. Zacks Research downgraded Carvana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Stephens reiterated an “overweight” rating and set a $440.00 price target on shares of Carvana in a research report on Tuesday, September 23rd. Eighteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Carvana presently has an average rating of “Moderate Buy” and a consensus target price of $422.10.

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.