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

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

Carvana Price Performance

CVNA stock opened at $120.33 on Friday. The company has a market capitalization of $24.29 billion, a price-to-earnings ratio of 52.78 and a beta of 3.28. Carvana Co. has a 1-year low of $10.16 and a 1-year high of $129.00. The business has a 50 day simple moving average of $85.26 and a two-hundred day simple moving average of $58.27.

Carvana (NYSE:CVNA) last issued its earnings results 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 company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.56 billion. The business’s revenue was down 14.6% compared to the same quarter last year. During the same period last year, the company posted ($0.97) EPS. Sell-side analysts anticipate that Carvana Co. will post -3.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. bought a new position in Carvana during the fourth quarter valued at approximately $29,000. Vanguard Group Inc. boosted its position in shares of Carvana by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock valued at $393,268,000 after acquiring an additional 62,820 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Carvana in the third quarter valued at $2,879,000. Charles Schwab Investment Management Inc. increased its position in Carvana by 56.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock worth $32,684,000 after purchasing an additional 280,851 shares during the last quarter. Finally, TD Asset Management Inc purchased a new stake in Carvana during the third quarter valued at $22,906,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

CVNA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of Carvana from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $130.00 in a report on Thursday, May 2nd. William Blair restated an “outperform” rating on shares of Carvana in a research note on Thursday, May 2nd. Morgan Stanley upped their price target on Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, February 26th. Royal Bank of Canada lifted their price objective on Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a report on Thursday, May 2nd. Finally, TD Cowen upped their target price on shares of Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Carvana currently has an average rating of “Hold” and a consensus target price of $77.60.

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.