Ryan S. Keeton Sells 8,250 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) insider Ryan S. Keeton sold 8,250 shares of Carvana stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $115.55, for a total value of $953,287.50. Following the completion of the sale, the insider now owns 187,256 shares of the company’s stock, valued at $21,637,430.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Carvana Stock Performance

Shares of Carvana stock opened at $121.67 on Friday. Carvana Co. has a fifty-two week low of $6.92 and a fifty-two week high of $124.20. The company has a market capitalization of $24.57 billion, a P/E ratio of 53.36 and a beta of 3.28. The company has a fifty day moving average of $81.81 and a 200 day moving average of $55.88.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.56 billion. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period last year, the business posted ($0.97) earnings per share. Analysts forecast that Carvana Co. will post -3.32 EPS for the current year.

Wall Street Analyst Weigh In

CVNA has been the subject of a number of research analyst reports. Jefferies Financial Group upgraded shares of Carvana from an “underperform” rating to a “hold” rating and lifted their price target for the stock from $30.00 to $85.00 in a research note on Tuesday, March 12th. Needham & Company LLC reiterated a “hold” rating on shares of Carvana in a research note on Thursday. TD Cowen increased their price target on Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a report on Monday, April 29th. Robert W. Baird lifted their price objective on Carvana from $65.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, JMP Securities increased their target price on Carvana from $80.00 to $135.00 and gave the company a “market outperform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $73.44.

Institutional Investors Weigh In On Carvana

Institutional investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC boosted its position in shares of Carvana by 59.8% during the third quarter. Exchange Traded Concepts LLC now owns 2,687 shares of the company’s stock worth $113,000 after acquiring an additional 1,006 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of Carvana by 12.3% during the third quarter. Handelsbanken Fonder AB now owns 19,200 shares of the company’s stock valued at $806,000 after purchasing an additional 2,100 shares in the last quarter. Xponance Inc. bought a new stake in shares of Carvana in the third quarter worth about $240,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Carvana by 20.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,324 shares of the company’s stock worth $769,000 after buying an additional 3,115 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in Carvana during the third quarter valued at approximately $236,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Company Profile

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.