Thomas Taira Sells 68,556 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) insider Thomas Taira sold 68,556 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $102.74, for a total value of $7,043,443.44. Following the transaction, the insider now owns 186,397 shares of the company’s stock, valued at $19,150,427.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Thomas Taira also recently made the following trade(s):

• On Tuesday, June 18th, Thomas Taira sold 20,000 shares of Carvana stock. The shares were sold at an average price of $110.35, for a total value of $2,207,000.00.
• On Tuesday, April 2nd, Thomas Taira sold 4,197 shares of Carvana stock. The shares were sold at an average price of $82.84, for a total value of $347,679.48.

Carvana Stock Up 1.7 %

CVNA opened at $110.79 on Wednesday. The firm has a market cap of $22.44 billion, a price-to-earnings ratio of 48.59 and a beta of 3.29. Carvana Co. has a 52 week low of $20.60 and a 52 week high of $129.00. The business’s 50 day moving average is $99.56 and its two-hundred day moving average is $73.58.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.35. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Equities analysts expect that Carvana Co. will post -0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Carvana by 6.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 831,879 shares of the company’s stock valued at $44,040,000 after purchasing an additional 53,318 shares during the last quarter. Blue Trust Inc. purchased a new stake in shares of Carvana in the fourth quarter valued at approximately $29,000. Vanguard Group Inc. boosted its stake in shares of Carvana by 0.7% in the third quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock valued at $393,268,000 after buying an additional 62,820 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in shares of Carvana by 38.6% in the fourth quarter. Rafferty Asset Management LLC now owns 43,792 shares of the company’s stock valued at $2,318,000 after buying an additional 12,193 shares in the last quarter. Finally, Investmentaktiengesellschaft Fuer Langfristige Investoren TGV boosted its stake in shares of Carvana by 17.6% in the fourth quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock valued at $26,470,000 after buying an additional 75,000 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVNA has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Carvana from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Raymond James raised Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. Robert W. Baird increased their price target on Carvana from $65.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Morgan Stanley raised their target price on Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, February 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Carvana in a research report on Thursday, May 2nd. 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’s stock. Based on data from MarketBeat, Carvana has an average rating of “Hold” and a consensus price target of $84.36.

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.