Carvana Co. (NYSE:CVNA) Insider Ryan S. Keeton Sells 24,845 Shares

Carvana Co. (NYSE:CVNA) insider Ryan S. Keeton sold 24,845 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the completion of the transaction, the insider now owns 151,029 shares in the company, valued at approximately $37,440,089.10. The trade was a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Carvana Stock Up 0.2 %

NYSE:CVNA traded up $0.52 during mid-day trading on Friday, hitting $248.29. 1,231,905 shares of the company’s stock traded hands, compared to its average volume of 4,543,033. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The company has a market capitalization of $51.55 billion, a P/E ratio of 24,767.00 and a beta of 3.32. The company has a fifty day moving average of $227.28 and a 200 day moving average of $167.50. Carvana Co. has a twelve month low of $40.21 and a twelve month high of $268.34.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 earnings per share. On average, analysts forecast that Carvana Co. will post 0.76 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CVNA. Wells Fargo & Company upped their target price on shares of Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Needham & Company LLC raised their price objective on Carvana from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank of Canada upgraded Carvana to a “sector perform” rating and upped their target price for the stock from $166.00 to $170.00 in a report on Monday, August 19th. Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $110.00 to $260.00 in a research note on Tuesday, November 5th. Finally, Stephens assumed coverage on shares of Carvana in a research note on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $222.71.

Institutional Investors Weigh In On Carvana

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ridgewood Investments LLC acquired a new stake in Carvana during the 2nd quarter valued at approximately $32,000. Sugarloaf Wealth Management LLC purchased a new position in shares of Carvana during the third quarter worth $32,000. Summit Securities Group LLC lifted its position in Carvana by 110.0% during the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares during the period. Capital Performance Advisors LLP purchased a new stake in Carvana in the third quarter valued at $40,000. Finally, Fifth Third Bancorp grew its position in Carvana by 450.8% during 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 period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.