Ryan Keeton Sells 10,000 Shares of Carvana (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) insider Ryan Keeton sold 10,000 shares of the company’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $375.04, for a total transaction of $3,750,400.00. Following the sale, the insider owned 84,958 shares of the company’s stock, valued at $31,862,648.32. This trade represents a 10.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Carvana Trading Up 3.3%

Carvana stock opened at $394.94 on Thursday. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. The firm has a market capitalization of $85.92 billion, a PE ratio of 90.17, a PEG ratio of 1.38 and a beta of 3.51. The business’s 50-day simple moving average is $345.36 and its 200-day simple moving average is $344.35.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. The business’s quarterly revenue was up 54.5% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. Equities research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Hedge Funds Weigh In On Carvana

A number of hedge funds have recently made changes to their positions in CVNA. Hilltop National Bank bought a new position in shares of Carvana during the 2nd quarter worth about $25,000. Brooklyn Investment Group raised its position in Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after purchasing an additional 125 shares in the last quarter. ORG Partners LLC lifted its stake in Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock worth $33,000 after purchasing an additional 87 shares during the period. SJS Investment Consulting Inc. boosted its holdings in Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 96 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of Carvana in the 3rd quarter valued at approximately $38,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CVNA shares. Morgan Stanley set a $450.00 price objective on shares of Carvana in a research note on Monday, October 20th. UBS Group began coverage on shares of Carvana in a report on Monday. They issued a “buy” rating and a $450.00 price target for the company. Wedbush upgraded shares of Carvana from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $380.00 to $400.00 in a research report on Monday, November 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $500.00 price objective on shares of Carvana in a research report on Monday, November 17th. Finally, Zacks Research cut shares of Carvana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Eighteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $422.10.

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.