Insider Buying: Carvana Co. (NYSE:CVNA) Director Purchases $99,684.00 in Stock

Carvana Co. (NYSE:CVNAGet Free Report) Director Neha Parikh bought 1,300 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was purchased at an average cost of $76.68 per share, for a total transaction of $99,684.00. Following the transaction, the director now directly owns 59,795 shares of the company’s stock, valued at approximately $4,585,080.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Neha Parikh also recently made the following trade(s):

  • On Friday, March 1st, Neha Parikh purchased 1,300 shares of Carvana stock. The shares were bought at an average cost of $77.00 per share, for a total transaction of $100,100.00.

Carvana Stock Up 7.3 %

Shares of NYSE:CVNA opened at $85.25 on Friday. The firm has a market cap of $17.21 billion, a P/E ratio of 157.87 and a beta of 3.32. Carvana Co. has a 12-month low of $6.45 and a 12-month high of $90.48. The business has a fifty day simple moving average of $54.06 and a 200 day simple moving average of $45.05.

Carvana (NYSE:CVNAGet Free Report) last announced its earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.56 billion. The firm’s revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.97) earnings per share. As a group, equities research analysts expect that Carvana Co. will post -3.58 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on CVNA. Morgan Stanley increased their price target on Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, February 26th. Raymond James raised Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. Wedbush increased their price target on Carvana from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. Royal Bank of Canada raised Carvana from an “underperform” rating to a “sector perform” rating and raised their target price for the company from $45.00 to $90.00 in a report on Friday. Finally, JPMorgan Chase & Co. raised Carvana from an “underweight” rating to a “neutral” rating and raised their target price for the company from $25.00 to $40.00 in a report on Monday, December 4th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $44.53.

Get Our Latest Analysis on Carvana

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CVNA. Tudor Investment Corp Et Al acquired a new stake in shares of Carvana in the 2nd quarter valued at about $11,071,000. Quantbot Technologies LP acquired a new stake in shares of Carvana in the 3rd quarter valued at about $2,879,000. TD Asset Management Inc acquired a new stake in shares of Carvana in the 3rd quarter valued at about $22,906,000. Charles Schwab Investment Management Inc. grew its stake in shares of Carvana by 56.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock valued at $32,684,000 after buying an additional 280,851 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in shares of Carvana by 59.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,687 shares of the company’s stock valued at $113,000 after buying an additional 1,006 shares during the period. 56.71% of the stock is owned by institutional investors.

About Carvana

(Get Free Report)

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.

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