Insider Selling: Carvana Co. (NYSE:CVNA) Insider Sells 24,845 Shares of Stock

Carvana Co. (NYSE:CVNA) insider Ryan S. Keeton sold 24,845 shares of Carvana stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the completion of the transaction, the insider now owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. The trade was a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Carvana Price Performance

Shares of NYSE:CVNA opened at $248.25 on Friday. The company has a market cap of $51.54 billion, a P/E ratio of 24,825.00 and a beta of 3.32. The company’s fifty day moving average is $228.64 and its two-hundred day moving average is $168.91. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. Carvana Co. has a 12-month low of $40.21 and a 12-month high of $268.34.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the previous year, the firm posted $0.23 earnings per share. The firm’s quarterly revenue was up 31.8% on a year-over-year basis. Equities analysts expect that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

Institutional Trading of Carvana

A number of hedge funds have recently made changes to their positions in CVNA. Ridgewood Investments LLC purchased a new position in Carvana during the second quarter valued at approximately $32,000. Sugarloaf Wealth Management LLC acquired a new stake in shares of Carvana during the 3rd quarter valued at $32,000. Summit Securities Group LLC grew its holdings in shares of Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 3,300 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Carvana in the third quarter worth $40,000. Finally, Fifth Third Bancorp raised its holdings in shares of Carvana by 450.8% during the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after acquiring an additional 275 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on CVNA shares. Piper Sandler raised their price target on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC boosted their price target on shares of Carvana from $300.00 to $330.00 and gave the company a “buy” rating in a report on Monday, December 9th. JMP Securities upped their price target on shares of Carvana from $200.00 to $320.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on shares of Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Wedbush upped their target price on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $222.71.

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.