Carvana Co. (NYSE:CVNA) Insider Thomas Taira Sells 25,000 Shares of Stock

Carvana Co. (NYSE:CVNA) insider Thomas Taira sold 25,000 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $120.00, for a total value of $3,000,000.00. Following the completion of the transaction, the insider now owns 161,397 shares in the company, valued at $19,367,640. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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 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 value 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 value of $347,679.48.

Carvana Price Performance

Shares of NYSE:CVNA opened at $119.46 on Tuesday. Carvana Co. has a 1 year low of $20.60 and a 1 year high of $129.00. The business has a 50 day simple moving average of $103.05 and a two-hundred day simple moving average of $76.21. The firm has a market capitalization of $24.20 billion, a PE ratio of 52.39 and a beta of 3.29.

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

Analysts Set New Price Targets

CVNA has been the topic of several research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Carvana in a report on Thursday, May 2nd. JMP Securities lifted their target price on Carvana from $135.00 to $150.00 and gave the stock a “market outperform” rating in a report on Friday, June 7th. TD Cowen lifted their target price on Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Royal Bank of Canada lifted their target price on Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a report on Thursday, May 2nd. Finally, Jefferies Financial Group raised Carvana from an “underperform” rating to a “hold” rating and boosted their price objective for the stock from $30.00 to $85.00 in a research note on Tuesday, March 12th. 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 stock. According to MarketBeat.com, Carvana presently has an average rating of “Hold” and a consensus target price of $87.29.

Institutional Trading of Carvana

A number of large investors have recently modified their holdings of the company. Cetera Advisors LLC purchased a new stake in shares of Carvana in the first quarter valued at approximately $461,000. Cetera Investment Advisers boosted its holdings in shares of Carvana by 171.7% in the first quarter. Cetera Investment Advisers now owns 20,862 shares of the company’s stock valued at $1,834,000 after purchasing an additional 13,185 shares during the period. Plato Investment Management Ltd purchased a new stake in shares of Carvana in the first quarter valued at approximately $55,000. Tidal Investments LLC purchased a new stake in shares of Carvana in the first quarter valued at approximately $1,783,000. Finally, Motley Fool Asset Management LLC purchased a new stake in shares of Carvana in the first quarter valued at approximately $636,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.