Ryan S. Keeton Sells Shares of Carvana Co. (NYSE: CVNA)

On December 12th, Ryan S. Keeton, an insider at Carvana Co. (NYSE: CVNA), sold 24,845 shares of the company's stock. The shares were sold at an average price of $247.90, resulting in a total transaction value of $6,159,075.50. After this sale, Keeton retains ownership of 151,029 shares in Carvana, which are valued at roughly $37,440,089.10. This transaction represents a 14.13% decrease in Keeton's ownership stake in the company. The details of the sale were reported in a legal filing with the Securities and Exchange Commission (SEC), available for public access.

Recent Performance of Carvana's Stock

On the trading floor, Carvana's stock rose by 0.2%, climbing $0.52 to reach $248.29 during Friday's mid-day trading session. Around 1,231,905 shares changed hands, compared to the average trading volume of 4,543,033 shares. As of now, Carvana has a market capitalization of approximately $51.55 billion, with a price-to-earnings (P/E) ratio of 24,767.00. The company's financial ratios show a debt-to-equity ratio of 18.99, a quick ratio of 2.12, and a current ratio of 3.25. Its stock has seen a twelve-month low of $40.21 and a high of $268.34.

Carvana's Recent Earnings Report

Carvana recently announced its quarterly earnings on October 30th. The company reported earnings per share (EPS) of $0.64 for the quarter, surpassing the consensus estimate of $0.23 by $0.41. The revenue recorded was $3.66 billion, exceeding analysts' expectations of $3.47 billion, marking a 31.8% year-over-year increase in revenue. In the same quarter of the previous year, Carvana reported EPS of $0.23. Analysts predict that the company will achieve an EPS of roughly $0.76 for the current year.

Analyst Ratings and Recommendations

Several financial analysts and brokerages have voiced their opinions on Carvana's stock. Wells Fargo & Company increased its target price for Carvana shares from $175.00 to $250.00, maintaining an "overweight" rating as noted in their research published on October 23rd. Needham & Company LLC raised their price target to $330.00 and recommended a "buy" rating. Royal Bank of Canada also upgraded its rating and lifted the target price from $166.00 to $170.00. Morgan Stanley changed its rating from "underweight" to "equal weight," raising the price target from $110.00 to $260.00. Overall, eleven analysts advise holding the stock, while eight recommend buying it. MarketBeat reports an average stock rating of "Hold" with a target price of $222.71.

Institutional Investors' Interest in Carvana

While recent trading activity has continued to draw interest, institutional investors and hedge funds have modified their positions in Carvana as well. For instance, Ridgewood Investments LLC acquired new stake worth about $32,000 in the second quarter. Similarly, Sugarloaf Wealth Management LLC also purchased shares valued at $32,000 during the third quarter. Other notable movements include Summit Securities Group LLC increasing their holdings by 110% and Fifth Third Bancorp growing their stake by 450.8% during the second quarter. Currently, 56.71% of Carvana's stock is owned by institutional and hedge fund investors.

About Carvana

Carvana Co., with its subsidiaries, offers a unique e-commerce platform intended for buying and selling used cars in the United States. The platform enables customers to research vehicles, inspect them utilizing 360-degree imaging technology, secure financing and warranty coverage, make purchases, and schedule their delivery or pick-up directly from desktop or mobile devices.

Conclusion

As Carvana continues to navigate the competitive landscape of the used car market, the sale by insider Ryan S. Keeton has drawn attention. Investors will be watching the company's stock closely as more financial performance data and market predictions are released.

Carvana, Shares, Insider