Carvana (NYSE:CVNA) Insider Sells $3,500,000.00 in Stock

Carvana Co. (NYSE:CVNA) insider Ryan Keeton sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $350.00, for a total value of $3,500,000.00. Following the transaction, the insider owned 94,958 shares in the company, valued at $33,235,300. The trade was a 9.53% 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 Stock Up 4.8%

NYSE:CVNA traded up $17.17 on Friday, hitting $374.50. The stock had a trading volume of 2,283,337 shares, compared to its average volume of 3,793,394. The business’s fifty day moving average is $345.53 and its 200 day moving average is $341.59. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63. The company has a market cap of $81.47 billion, a PE ratio of 85.50, a P/E/G ratio of 1.29 and a beta of 3.50.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 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 prior year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was up 54.5% on a year-over-year basis. On average, equities research analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CVNA has been the subject of several recent research reports. Jefferies Financial Group reissued a “buy” rating on shares of Carvana in a report on Tuesday. Bank of America lowered their target price on shares of Carvana from $405.00 to $385.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Wedbush upgraded Carvana from a “neutral” rating to an “outperform” rating and raised their price target for the company from $380.00 to $400.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft started coverage on shares of Carvana in a research note on Friday, November 21st. They set a “buy” rating and a $395.00 price target on the stock. Finally, Zacks Research downgraded shares of Carvana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Seventeen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $420.70.

Hedge Funds Weigh In On Carvana

Institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its holdings in Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after buying an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock valued at $2,620,785,000 after purchasing an additional 1,109,476 shares during the last quarter. Viking Global Investors LP raised its position in Carvana by 94.9% in the third quarter. Viking Global Investors LP now owns 2,101,241 shares of the company’s stock worth $792,672,000 after acquiring an additional 1,023,265 shares during the period. Sands Capital Management LLC raised its holdings in Carvana by 1,374.3% in the 2nd quarter. Sands Capital Management LLC now owns 901,227 shares of the company’s stock worth $303,677,000 after purchasing an additional 840,096 shares during the period. Finally, Norges Bank purchased a new position in Carvana during the second quarter valued at $259,468,000. Institutional investors 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.