Carvana Co (NYSE:CVNA) insider Ryan S. Keeton sold 9,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $62.13, for a total transaction of $559,170.00. Following the completion of the transaction, the insider now directly owns 16,748 shares in the company, valued at approximately $1,040,553.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of NYSE:CVNA opened at $61.78 on Friday. Carvana Co has a 52-week low of $28.44 and a 52-week high of $76.85. The firm has a market capitalization of $9.21 billion, a P/E ratio of -35.71 and a beta of 2.69. The company has a quick ratio of 0.56, a current ratio of 1.39 and a debt-to-equity ratio of 2.73.
Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.03). Carvana had a negative return on equity of 30.85% and a negative net margin of 3.54%. The company had revenue of $755.23 million during the quarter, compared to analysts’ expectations of $696.61 million. Sell-side analysts predict that Carvana Co will post -1.81 EPS for the current year.
A number of large investors have recently made changes to their positions in CVNA. FMR LLC grew its position in Carvana by 749.8% in the fourth quarter. FMR LLC now owns 3,591,784 shares of the company’s stock worth $117,487,000 after acquiring an additional 3,169,132 shares in the last quarter. Requisite Energy Fund I LP purchased a new position in Carvana in the fourth quarter worth $57,470,000. Hound Partners LLC purchased a new position in Carvana in the fourth quarter worth $43,453,000. Whale Rock Capital Management LLC grew its position in Carvana by 106.7% in the first quarter. Whale Rock Capital Management LLC now owns 2,028,224 shares of the company’s stock worth $117,759,000 after acquiring an additional 1,046,806 shares in the last quarter. Finally, Morgan Stanley grew its position in Carvana by 87.5% in the first quarter. Morgan Stanley now owns 2,017,113 shares of the company’s stock worth $117,113,000 after acquiring an additional 941,428 shares in the last quarter. Institutional investors own 37.08% of the company’s stock.
CVNA has been the topic of several research analyst reports. Robert W. Baird decreased their price target on shares of Carvana from $65.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, February 28th. Morgan Stanley decreased their price target on shares of Carvana from $23.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, February 28th. Citigroup upped their price target on shares of Carvana to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 28th. Zacks Investment Research raised shares of Carvana from a “sell” rating to a “hold” rating in a report on Monday, March 18th. Finally, Wells Fargo & Co reaffirmed a “buy” rating and issued a $57.00 price target on shares of Carvana in a report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $67.42.
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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 proprietary 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.
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