Insider Selling: Carvana Co. (NYSE:CVNA) Insider Sells 14,686 Shares of Stock

Carvana Co. (NYSE:CVNA) insider Ryan S. Keeton sold 14,686 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $114.02, for a total transaction of $1,674,497.72. Following the completion of the sale, the insider now owns 172,570 shares in the company, valued at $19,676,431.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Carvana Stock Down 1.9 %

Carvana stock traded down $2.27 during mid-day trading 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. The firm has a market capitalization of $23.10 billion, a PE ratio of 51.17 and a beta of 3.28. The business’s fifty day simple moving average is $83.59 and its 200 day simple moving average is $57.44. Carvana Co. has a one year low of $10.16 and a one year high of $129.00.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CVNA. Evercore ISI lowered their target price on Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Jefferies Financial Group raised shares of Carvana from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $30.00 to $85.00 in a research report on Tuesday, March 12th. Robert W. Baird lifted their price target on Carvana from $65.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Wedbush increased their price objective on Carvana from $80.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, Wells Fargo & Company upped their price target on Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $73.44.

Institutional Trading of Carvana

A number of hedge funds and other institutional investors have recently made changes to their positions in CVNA. Blue Trust Inc. purchased a new stake in shares of Carvana during the 4th quarter valued at $29,000. Parallel Advisors LLC raised its position in Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after purchasing an additional 194 shares in the last quarter. Hanseatic Management Services Inc. bought a new stake in Carvana during the third quarter worth about $34,000. Tidemark LLC purchased a new position in shares of Carvana in the 4th quarter worth about $50,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in shares of Carvana by 1,225.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock valued at $50,000 after buying an additional 1,103 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

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.