Insider Selling: Carvana Co. (NYSE:CVNA) Insider Sells 11,276 Shares of Stock

Carvana Co. (NYSE:CVNA) insider Ryan S. Keeton sold 11,276 shares of the company’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $340.68, for a total value of $3,841,507.68. Following the sale, the insider now owns 136,628 shares of the company’s stock, valued at approximately $46,546,427.04. The trade was a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Carvana Trading Down 7.0%

Shares of CVNA stock opened at $296.71 on Friday. Carvana Co. has a twelve month low of $100.05 and a twelve month high of $351.43. The stock’s fifty day simple moving average is $272.91 and its 200 day simple moving average is $241.05. 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 firm has a market capitalization of $63.54 billion, a P/E ratio of 188.99 and a beta of 3.65.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same period last year, the firm posted $0.23 earnings per share. The business’s revenue for the quarter was up 38.3% on a year-over-year basis. As a group, sell-side analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on CVNA shares. JPMorgan Chase & Co. dropped their price target on Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Morgan Stanley boosted their target price on shares of Carvana from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, May 15th. Evercore ISI reduced their price target on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 11th. Piper Sandler set a $340.00 price objective on shares of Carvana and gave the company an “overweight” rating in a research report on Thursday, May 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $340.00 target price on shares of Carvana in a research note on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $280.35.

Institutional Investors Weigh In On Carvana

Several hedge funds have recently added to or reduced their stakes in CVNA. Price T Rowe Associates Inc. MD lifted its holdings in Carvana by 13.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after buying an additional 1,823,218 shares during the period. Vanguard Group Inc. increased its stake in shares of Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock valued at $2,620,785,000 after buying an additional 1,109,476 shares during the period. Lingotto Investment Management LLP raised its position in shares of Carvana by 1.5% during the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock worth $810,827,000 after acquiring an additional 57,215 shares during the last quarter. Durable Capital Partners LP lifted its stake in shares of Carvana by 6.3% in the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock worth $440,932,000 after acquiring an additional 129,246 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Carvana by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock valued at $381,592,000 after acquiring an additional 75,250 shares during the last quarter. 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.