Carvana (NYSE:CVNA) Insider Sells $3,750,400.00 in Stock

Carvana Co. (NYSE:CVNA) insider Ryan Keeton sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $375.04, for a total value of $3,750,400.00. Following the transaction, the insider owned 84,958 shares in the company, valued at approximately $31,862,648.32. This trade represents a 10.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Carvana Stock Up 1.9%

Shares of CVNA traded up $7.31 during trading hours on Tuesday, hitting $382.57. 2,870,243 shares of the company were exchanged, compared to its average volume of 2,909,360. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. The company has a market cap of $83.22 billion, a PE ratio of 85.68, a PEG ratio of 1.36 and a beta of 3.51. The firm’s 50 day moving average is $344.86 and its 200-day moving average is $343.41. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same period in the previous year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 54.5% compared to the same quarter last year. On average, equities research analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Avantax Advisory Services Inc. boosted its stake in Carvana by 51.4% during the first quarter. Avantax Advisory Services Inc. now owns 1,679 shares of the company’s stock worth $351,000 after buying an additional 570 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Carvana by 32.0% during the 1st quarter. LPL Financial LLC now owns 56,441 shares of the company’s stock worth $11,801,000 after acquiring an additional 13,696 shares during the period. Mackenzie Financial Corp boosted its position in shares of Carvana by 25.2% during the 1st quarter. Mackenzie Financial Corp now owns 7,099 shares of the company’s stock valued at $1,484,000 after acquiring an additional 1,430 shares in the last quarter. Arkadios Wealth Advisors bought a new stake in Carvana in the first quarter valued at about $242,000. Finally, Commerce Bank increased its stake in Carvana by 1.6% in the first quarter. Commerce Bank now owns 4,446 shares of the company’s stock valued at $930,000 after acquiring an additional 69 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CVNA shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Carvana in a research report on Monday. Citigroup cut their price objective on Carvana from $490.00 to $445.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. JPMorgan Chase & Co. increased their target price on Carvana from $425.00 to $490.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Barclays started coverage on Carvana in a research report on Tuesday, November 11th. They issued an “overweight” rating and a $390.00 price target on the stock. Finally, Stephens reiterated an “overweight” rating and set a $440.00 price target on shares of Carvana in a report on Tuesday, September 23rd. Eighteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Carvana has an average rating of “Moderate Buy” and an average price target of $422.10.

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.