Carvana Co. (NYSE:CVNA) Insider Sells $2,207,000.00 in Stock

Carvana Co. (NYSE:CVNA) insider Thomas Taira sold 20,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $110.35, for a total transaction of $2,207,000.00. Following the sale, the insider now directly owns 186,397 shares of the company’s stock, valued at approximately $20,568,908.95. The transaction 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 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 Trading Up 1.7 %

CVNA traded up $1.85 during trading hours on Tuesday, hitting $110.79. 2,708,485 shares of the company’s stock were exchanged, compared to its average volume of 5,628,366. Carvana Co. has a 12-month low of $20.60 and a 12-month high of $129.00. The firm has a 50 day moving average of $99.56 and a 200 day moving average of $73.58. The firm has a market cap of $22.44 billion, a P/E ratio of 47.78 and a beta of 3.29.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) EPS 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, research analysts expect that Carvana Co. will post -0.75 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on CVNA. William Blair restated an “outperform” rating on shares of Carvana in a research report on Thursday, May 2nd. Wedbush boosted their price target on shares of Carvana from $80.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Wells Fargo & Company boosted their price target on shares of Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Morgan Stanley boosted their target price on shares of Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, February 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Carvana from $130.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, June 10th. One investment 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, Carvana currently has a consensus rating of “Hold” and a consensus target price of $84.36.

Institutional Investors Weigh In On Carvana

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

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.