Insider Selling: Carvana Co. (NYSE:CVNA) Insider Sells 13,137 Shares of Stock

Carvana Co. (NYSE:CVNA) insider Ryan S. Keeton sold 13,137 shares of Carvana stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $300.00, for a total value of $3,941,100.00. Following the completion of the transaction, the insider now directly owns 148,402 shares in the company, valued at approximately $44,520,600. This represents a 8.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Carvana Price Performance

Carvana stock opened at $299.68 on Friday. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The firm has a market cap of $63.88 billion, a P/E ratio of 190.88 and a beta of 3.61. The business’s fifty day moving average is $220.71 and its two-hundred day moving average is $230.33. Carvana Co. has a 52 week low of $97.55 and a 52 week high of $311.88.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on CVNA shares. Royal Bank of Canada lifted their price target on Carvana from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Wells Fargo & Company lifted their price target on Carvana from $290.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Piper Sandler lifted their price objective on Carvana from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, April 22nd. Wedbush raised Carvana to a “hold” rating in a report on Thursday, May 8th. Finally, Bank of America lifted their price objective on Carvana from $290.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Carvana has a consensus rating of “Moderate Buy” and a consensus price target of $269.18.

Hedge Funds Weigh In On Carvana

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Fred Alger Management LLC boosted its stake in Carvana by 139.7% in the first quarter. Fred Alger Management LLC now owns 33,083 shares of the company’s stock worth $6,917,000 after purchasing an additional 19,279 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its position in shares of Carvana by 2.8% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 14,289 shares of the company’s stock worth $2,988,000 after acquiring an additional 383 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Carvana by 72.4% during the first quarter. NewEdge Advisors LLC now owns 9,068 shares of the company’s stock worth $1,896,000 after acquiring an additional 3,807 shares during the last quarter. Interval Partners LP bought a new stake in shares of Carvana during the first quarter worth $340,000. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Carvana by 55.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 16,496 shares of the company’s stock worth $3,449,000 after acquiring an additional 5,906 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.