Thomas Taira Sells 20,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) insider Thomas Taira sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $110.35, for a total value of $2,207,000.00. Following the transaction, the insider now owns 186,397 shares of the company’s stock, valued at $20,568,908.95. 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 Friday, June 14th, Thomas Taira sold 68,556 shares of Carvana stock. The stock was sold at an average price of $102.74, for a total transaction of $7,043,443.44.
• On Tuesday, April 2nd, Thomas Taira sold 4,197 shares of Carvana stock. The stock was sold at an average price of $82.84, for a total transaction of $347,679.48.

Carvana Stock Performance

Carvana stock opened at $110.78 on Thursday. The company has a market capitalization of $22.44 billion, a P/E ratio of 48.59 and a beta of 3.29. Carvana Co. has a fifty-two week low of $20.60 and a fifty-two week high of $129.00. The stock has a 50-day simple moving average of $100.71 and a 200-day simple moving average of $74.36.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.72 billion. As a group, analysts forecast that Carvana Co. will post -0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Evercore ISI dropped their price target on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. JPMorgan Chase & Co. upped their price target on Carvana from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Robert W. Baird lifted their price objective on Carvana from $65.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Jefferies Financial Group upgraded shares of Carvana from an “underperform” rating to a “hold” rating and upped their target price for the stock from $30.00 to $85.00 in a research note on Tuesday, March 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Carvana in a research note on Thursday, May 2nd. One 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $84.36.

Institutional Trading of Carvana

Large investors have recently bought and sold shares of the business. Blue Trust Inc. acquired a new position in Carvana in the fourth quarter valued at $29,000. Hanseatic Management Services Inc. acquired a new position in Carvana in the 3rd quarter valued at about $34,000. Parallel Advisors LLC raised its stake in Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after acquiring an additional 194 shares during the last quarter. Tidemark LLC acquired a new stake in Carvana during the 4th quarter worth approximately $50,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Carvana in the 1st quarter valued at approximately $55,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.