Carvana Co. (NYSE:CVNA) Insider Sells $3,841,507.68 in Stock

Carvana Co. (NYSE:CVNA) insider Ryan S. Keeton sold 11,276 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $340.68, for a total value of $3,841,507.68. Following the transaction, the insider now owns 136,628 shares in the company, valued at $46,546,427.04. The trade was a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Carvana Price Performance

NYSE:CVNA opened at $340.00 on Thursday. Carvana Co. has a 52-week low of $100.05 and a 52-week high of $351.43. The stock has a fifty day moving average of $267.47 and a 200 day moving average of $240.37. 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 capitalization of $72.81 billion, a price-to-earnings ratio of 216.56 and a beta of 3.65.

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

Hedge Funds Weigh In On Carvana

A number of hedge funds and other institutional investors have recently bought and sold shares of CVNA. Quent Capital LLC bought a new stake in shares of Carvana during the 4th quarter worth $28,000. Brooklyn Investment Group increased its stake in Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after acquiring an additional 125 shares during the last quarter. Global Retirement Partners LLC raised its position in Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in Carvana during the fourth quarter worth about $31,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Carvana in the 1st quarter worth about $33,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

CVNA has been the subject of a number of research reports. Bank of America raised their price objective on Carvana from $325.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley boosted their price target on shares of Carvana from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. dropped their price objective on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Needham & Company LLC reiterated a “buy” rating and set a $340.00 price objective on shares of Carvana in a report on Thursday, May 8th. Finally, William Blair reiterated an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $280.35.

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.