Carvana Co. (NYSE:CVNA) Insider Ryan S. Keeton Sells 14,686 Shares

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

Carvana Trading Down 1.9 %

Shares of CVNA stock opened at $114.39 on Thursday. The stock has a market capitalization of $23.10 billion, a P/E ratio of 50.17 and a beta of 3.28. The firm’s 50 day moving average is $84.37 and its 200 day moving average is $57.84. Carvana Co. has a 12 month low of $10.16 and a 12 month high of $129.00.

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

Institutional Trading of Carvana

A number of large investors have recently modified their holdings of CVNA. Xponance Inc. bought a new position in shares of Carvana during the 3rd quarter valued at about $240,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Carvana by 20.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,324 shares of the company’s stock valued at $769,000 after purchasing an additional 3,115 shares during the last quarter. Mackenzie Financial Corp bought a new stake in Carvana in the third quarter worth $236,000. Strs Ohio grew its stake in shares of Carvana by 272.5% during the third quarter. Strs Ohio now owns 14,900 shares of the company’s stock valued at $625,000 after buying an additional 10,900 shares during the last quarter. Finally, TD Asset Management Inc bought a new stake in shares of Carvana in the 3rd quarter valued at about $22,906,000. Institutional investors own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CVNA. Royal Bank of Canada raised their price target on shares of Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a report on Thursday, May 2nd. Wedbush boosted their price target on shares of Carvana from $80.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Morgan Stanley lifted their price objective on shares of Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, February 26th. JMP Securities upped their target price on shares of Carvana from $80.00 to $135.00 and gave the stock a “market outperform” rating in a report on Friday, May 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Carvana in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $77.60.

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.