Carvana Co. Insider Ryan S. Keeton Sells 24,845 Shares

On December 12th, Ryan S. Keeton, an insider at Carvana Co. (NYSE:CVNA), sold 24,845 shares of the company's stock. The transaction was executed at an average price of $247.90 per share, resulting in a total sale amount of $6,159,075.50. After this sale, Keeton retains a direct ownership of 151,029 shares, which are valued at about $37,440,089.10. This sale represents a 14.13% reduction in his ownership stake. Details of the transaction were made available through a filing with the Securities and Exchange Commission (SEC), which can be viewed on their official website.

Carvana's Stock Performance

Carvana's stock saw a slight increase of 0.2% on Friday, rising by $0.52 to reach $248.29 during midday trading. The trading volume for the day was 1,231,905 shares, significantly lower than the average volume of around 4,543,033 shares. Financial indicators for Carvana include a notable debt-to-equity ratio of 18.99, a quick ratio of 2.12, and a current ratio of 3.25. The company's market capitalization stands at $51.55 billion, with a P/E ratio of 24,767.00 and a beta of 3.32. Carvana's stock has fluctuated between a twelve-month low of $40.21 and a high of $268.34.

Recent Earnings Report

Carvana reported its quarterly earnings on October 30th, revealing an earnings per share (EPS) of $0.64 for the quarter. This surpassed the consensus estimate of $0.23 by $0.41. The company's revenue for this period was $3.66 billion, exceeding analyst expectations of $3.47 billion and marking a 31.8% increase compared to the same quarter from the prior year. Last year's EPS for the same period was $0.23. Analysts now predict that Carvana will post an EPS of $0.76 for the current fiscal year.

Analyst Insights

Several analysts from various brokerages have shared their perspectives on Carvana's stock performance. Wells Fargo & Company recently adjusted its target price for Carvana, raising it from $175.00 to $250.00, and assigned an "overweight" rating. Needham & Company also increased their price objective from $300.00 to $330.00, maintaining a "buy" rating. Additionally, Royal Bank of Canada revised their rating, upgrading Carvana to "sector perform," with a new target price of $170.00. Morgan Stanley shifted their stance from "underweight" to "equal weight," increasing their price target from $110.00 to $260.00. Overall, market analysts have expressed a mix of ratings, with eleven rating the stock as a hold and eight recommending it as a buy. The average rating is currently "Hold" with a target price of $222.71.

Institutional Changes

Recent activity from institutional investors has been notable as well. For instance, Ridgewood Investments LLC acquired a new stake valued at approximately $32,000 during the second quarter, and Sugarloaf Wealth Management LLC followed suit with a similar investment in the third quarter. Furthermore, Summit Securities Group LLC boosted its position in Carvana by 110.0%, now holding 300 shares worth $39,000. The overall institutional ownership of Carvana stands at 56.71% as hedge funds and other institutional investors make strategic adjustments.

About Carvana

Carvana Co, along with its subsidiaries, operates a unique e-commerce platform dedicated to buying and selling used cars in the United States. Their platform offers customers a comprehensive experience that includes vehicle research, inspection via advanced imaging technology, financing options, warranty coverage, and the ability to purchase vehicles while scheduling either delivery or pick-up, all from the convenience of desktop or mobile devices.

Investment Considerations

For investors considering Carvana, it's essential to assess the stock's ratings and its potential in the market. While analysts currently assign a "Hold" rating to Carvana, there might be other stocks that analysts believe present a more attractive investment opportunity.

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