Insider Selling: Carvana Co. (NYSE:CVNA) Director Sells $1,039,207.56 in Stock

Carvana Co. (NYSE:CVNA) Director Ira J. Platt sold 7,338 shares of Carvana stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $141.62, for a total value of $1,039,207.56. Following the completion of the transaction, the director now owns 30,891 shares of the company’s stock, valued at $4,374,783.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Carvana Trading Up 2.9 %

NYSE:CVNA opened at $155.93 on Friday. Carvana Co. has a 12-month low of $25.09 and a 12-month high of $156.18. The company has a current ratio of 3.11, a quick ratio of 1.62 and a debt-to-equity ratio of 47.20. The stock’s 50 day simple moving average is $127.89 and its 200-day simple moving average is $99.26. The firm has a market cap of $31.59 billion, a P/E ratio of 68.39 and a beta of 3.37.

Analysts Set New Price Targets

CVNA has been the topic of a number of recent analyst reports. Evercore ISI dropped their price objective on shares of Carvana from $150.00 to $142.00 and set an “in-line” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada increased their target price on Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a report on Thursday, May 2nd. Morgan Stanley lifted their price target on Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. JMP Securities increased their price objective on Carvana from $150.00 to $200.00 and gave the company a “market outperform” rating in a report on Friday, August 2nd. Finally, TD Cowen boosted their price objective on shares of Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Carvana has an average rating of “Hold” and a consensus price target of $143.73.

Hedge Funds Weigh In On Carvana

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Carvana during the fourth quarter worth about $117,000. International Assets Investment Management LLC purchased a new position in shares of Carvana during the 4th quarter worth approximately $5,610,000. Rakuten Securities Inc. acquired a new stake in shares of Carvana in the 4th quarter valued at approximately $180,000. Federated Hermes Inc. purchased a new stake in shares of Carvana in the fourth quarter valued at approximately $864,000. Finally, Jennison Associates LLC acquired a new position in Carvana during the fourth quarter worth $500,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Company Profile

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.