Carvana Co. (NYSE:CVNA) Insider Sells $8,237,127.93 in Stock

Carvana Co. (NYSE:CVNA) insider Daniel J. Gill sold 41,163 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $200.11, for a total transaction of $8,237,127.93. Following the transaction, the insider now directly owns 283,287 shares of the company’s stock, valued at approximately $56,688,561.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Carvana Price Performance

Carvana stock traded up $2.85 during trading hours on Thursday, hitting $200.19. 2,932,898 shares of the company traded hands, compared to its average volume of 4,815,938. The firm has a market cap of $40.55 billion, a P/E ratio of 87.80 and a beta of 3.44. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. The firm’s 50-day simple moving average is $166.07 and its two-hundred day simple moving average is $131.53. Carvana Co. has a 1-year low of $25.09 and a 1-year high of $203.24.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.23 billion. As a group, analysts forecast that Carvana Co. will post 0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on CVNA. Evercore ISI raised their price objective on shares of Carvana from $178.00 to $182.00 and gave the stock an “in-line” rating in a report on Tuesday. Wedbush raised their price target on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Stephens began coverage on shares of Carvana in a research report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price target on the stock. BTIG Research raised their price target on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Citigroup raised their price target on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $182.29.

Hedge Funds Weigh In On Carvana

Large investors have recently bought and sold shares of the stock. Ridgewood Investments LLC acquired a new position in shares of Carvana in the 2nd quarter worth approximately $32,000. Sugarloaf Wealth Management LLC acquired a new position in shares of Carvana in the 3rd quarter worth approximately $32,000. Summit Securities Group LLC grew its stake in shares of Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 3,300 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Carvana by 450.8% in the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of Carvana in the 2nd quarter worth approximately $51,000. 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.