Insider Selling: Carvana Co. (NYSE:CVNA) Insider Sells 11,276 Shares of Stock

Carvana Co. (NYSE:CVNA - Get Free Report) insider Ryan S. Keeton sold 11,276 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $340.68, for a total value of $3,841,507.68. Following the transaction, the insider now owns 136,628 shares in the company, valued at approximately $46,546,427.04. This trade represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Carvana Stock Down 4.9%

Shares of NYSE CVNA traded down $15.75 during midday trading on Friday, reaching $303.20. The company's stock had a trading volume of 1,445,624 shares, compared to its average volume of 3,913,944. The stock has a 50 day simple moving average of $270.50 and a 200-day simple moving average of $240.77. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The stock has a market capitalization of $64.93 billion, a price-to-earnings ratio of 193.57 and a beta of 3.65. Carvana Co. has a fifty-two week low of $100.05 and a fifty-two week high of $351.43.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $0.75 by $0.76. The firm had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company's revenue for the quarter was up 38.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS. Equities research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CVNA. Charles Schwab Investment Management Inc. increased its holdings in Carvana by 9.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company's stock worth $94,148,000 after buying an additional 39,089 shares during the last quarter. Plato Investment Management Ltd increased its position in Carvana by 135.5% during the fourth quarter. Plato Investment Management Ltd now owns 5,204 shares of the company's stock worth $1,062,000 after acquiring an additional 2,994 shares during the period. Bank of New York Mellon Corp boosted its holdings in Carvana by 37.7% in the 4th quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company's stock valued at $97,305,000 after purchasing an additional 130,942 shares during the period. Raymond James Financial Inc. bought a new stake in Carvana in the 4th quarter valued at about $60,866,000. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of Carvana by 7.1% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 42,052 shares of the company's stock worth $8,552,000 after purchasing an additional 2,771 shares during the period. 56.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CVNA has been the subject of a number of recent analyst reports. Stephens reiterated an "overweight" rating and set a $300.00 target price on shares of Carvana in a research report on Monday, March 3rd. Morgan Stanley boosted their target price on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Robert W. Baird lifted their price objective on Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Royal Bank of Canada increased their price objective on shares of Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, Wedbush raised Carvana to a "hold" rating in a research note on Thursday, May 8th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $280.35.

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.