Insider Selling: Carvana Co. (NYSE:CVNA) Insider Sells $7,206,600.00 in Stock

Carvana Co. (NYSE:CVNA) insider Paul W. Breaux sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $240.22, for a total value of $7,206,600.00. Following the sale, the insider now owns 135,025 shares in the company, valued at approximately $32,435,705.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Carvana Stock Performance

Shares of CVNA opened at $229.08 on Monday. The business’s fifty day simple moving average is $174.33 and its two-hundred day simple moving average is $138.23. The company has a current ratio of 3.25, a quick ratio of 2.02 and a debt-to-equity ratio of 18.99. Carvana Co. has a 12 month low of $27.75 and a 12 month high of $259.39. The company has a market cap of $47.41 billion, a price-to-earnings ratio of 22,930.93 and a beta of 3.37.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. Carvana’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 earnings per share. Research analysts anticipate that Carvana Co. will post 0.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on CVNA shares. Piper Sandler upped their price objective on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday. Evercore ISI raised their price objective on Carvana from $186.00 to $190.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Wedbush increased their target price on Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Wells Fargo & Company increased their target price on Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, JMP Securities raised their price objective on Carvana from $200.00 to $320.00 and gave the stock a “market outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $208.88.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CVNA. Sugarloaf Wealth Management LLC acquired a new position in shares of Carvana during the third quarter worth $32,000. Capital Performance Advisors LLP purchased a new stake in Carvana in the third quarter valued at $40,000. Ridgewood Investments LLC acquired a new position in shares of Carvana in the second quarter worth about $32,000. Summit Securities Group LLC raised its position in shares of Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 3,300 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of 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 last quarter. 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.