Carvana Co. (NYSE:CVNA) Insider Sells $3,368,404.40 in Stock

Carvana Co. (NYSE:CVNA) insider Daniel J. Gill sold 26,930 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $125.08, for a total value of $3,368,404.40. Following the completion of the transaction, the insider now directly owns 382,497 shares of the company’s stock, valued at approximately $47,842,724.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Carvana Stock Performance

CVNA traded down $2.27 on Wednesday, reaching $114.39. 3,649,464 shares of the company’s stock were exchanged, compared to its average volume of 6,279,654. Carvana Co. has a twelve month low of $10.16 and a twelve month high of $129.00. The company’s 50 day moving average is $83.59 and its 200-day moving average is $57.44. The company has a market cap of $23.10 billion, a price-to-earnings ratio of 51.17 and a beta of 3.28.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the business posted ($0.97) EPS. The business’s quarterly revenue was down 14.6% on a year-over-year basis. Sell-side analysts forecast that Carvana Co. will post -3.05 EPS for the current year.

Institutional Investors Weigh In On Carvana

Several institutional investors have recently bought and sold shares of CVNA. Morgan Stanley lifted its stake in Carvana by 13.8% in the 3rd quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock worth $619,478,000 after acquiring an additional 1,784,009 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Carvana by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after purchasing an additional 655,603 shares in the last quarter. TD Asset Management Inc bought a new stake in shares of Carvana in the 3rd quarter valued at approximately $22,906,000. UBS Group AG increased its holdings in Carvana by 132.6% in the third quarter. UBS Group AG now owns 81,620 shares of the company’s stock worth $3,426,000 after buying an additional 331,892 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Carvana by 56.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock valued at $32,684,000 after acquiring an additional 280,851 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CVNA shares. TD Cowen raised 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. Evercore ISI reduced their price target on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. JPMorgan Chase & Co. raised Carvana from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $70.00 to $130.00 in a research report on Thursday, May 2nd. Morgan Stanley boosted their price target on shares of Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a research note on Monday, February 26th. Finally, Raymond James raised Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Carvana has a consensus rating of “Hold” and a consensus price target of $73.44.

Carvana Company Profile

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.