Carvana Co. (NYSE:CVNA) Insider Ryan S. Keeton Sells 8,250 Shares

Carvana Co. (NYSE:CVNA) insider Ryan S. Keeton sold 8,250 shares of Carvana stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $115.55, for a total transaction of $953,287.50. Following the completion of the sale, the insider now owns 187,256 shares of the company’s stock, valued at approximately $21,637,430.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Carvana Stock Performance

CVNA traded up $5.22 during trading on Friday, hitting $121.72. The stock had a trading volume of 8,523,599 shares, compared to its average volume of 6,314,580. Carvana Co. has a twelve month low of $6.92 and a twelve month high of $124.20. The company’s 50-day moving average price is $80.75 and its 200 day moving average price is $55.27. The firm has a market capitalization of $24.58 billion, a P/E ratio of 53.39 and a beta of 3.28.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the firm posted ($0.97) earnings per share. The company’s revenue was down 14.6% compared to the same quarter last year. As a group, equities analysts expect that Carvana Co. will post -3.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CVNA. Morgan Stanley grew its position in Carvana by 13.8% during the third quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock valued at $619,478,000 after acquiring an additional 1,784,009 shares during the period. Vanguard Group Inc. grew its stake in shares of Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after acquiring an additional 655,603 shares in the last quarter. FMR LLC lifted its stake in shares of Carvana by 0.5% in the third quarter. FMR LLC now owns 4,696,510 shares of the company’s stock worth $197,160,000 after acquiring an additional 24,560 shares in the last quarter. First Trust Advisors LP boosted its holdings in Carvana by 17.1% in the fourth quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock valued at $78,560,000 after purchasing an additional 216,893 shares during the last quarter. Finally, Goodnow Investment Group LLC increased its holdings in Carvana by 1.6% during the 4th quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock worth $77,532,000 after purchasing an additional 23,140 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Carvana in a research report on Thursday. William Blair restated an “outperform” rating on shares of Carvana in a report on Thursday. Wedbush lifted their price objective on Carvana from $80.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday. Wells Fargo & Company lifted their price target on shares of Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised Carvana from a “neutral” rating to an “overweight” rating and increased their target price for the company from $70.00 to $130.00 in a report on Thursday. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Carvana currently has a consensus rating of “Hold” and a consensus price target of $73.44.

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.