Carvana Co. (NYSE:CVNA) Insider Ryan S. Keeton Sells 8,250 Shares of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Carvana Trading Up 4.5 %

Carvana stock opened at $121.72 on Friday. The company has a market capitalization of $24.58 billion, a price-to-earnings ratio of 53.39 and a beta of 3.28. Carvana Co. has a 12 month low of $6.92 and a 12 month high of $124.20. The stock’s 50 day moving average is $81.81 and its 200-day moving average is $55.88.

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

Institutional Investors Weigh In On Carvana

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Exchange Traded Concepts LLC lifted its position in 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 purchasing an additional 1,006 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Carvana by 12.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 19,200 shares of the company’s stock worth $806,000 after acquiring an additional 2,100 shares during the period. Xponance Inc. acquired a new stake in shares of Carvana during the 3rd quarter worth approximately $240,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Carvana by 20.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,324 shares of the company’s stock valued at $769,000 after acquiring an additional 3,115 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new position in Carvana during the third quarter valued at approximately $236,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CVNA. Royal Bank of Canada upped their price target on Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a research note on Thursday. Wedbush increased their target price on shares of Carvana from $80.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday. JMP Securities upped their price objective on Carvana from $80.00 to $135.00 and gave the stock a “market outperform” rating in a research note on Friday. Evercore ISI dropped their price target on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Carvana in a research report on Thursday. One equities 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $73.44.

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.