Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Carvana Co. shares valued at $4,006,495 were sold by GARCIA ERNEST C. II on Apr 11 ’24. At $80.13 per share, GARCIA ERNEST C. II sold 50,000 shares. The insider’s holdings dropped to 3,312,500 shares worth approximately $229.09 million following the completion of this transaction.
Also, GILL DANIEL J. sold 10,335 shares, netting a total of over 856,234 in proceeds. Following the sale of shares at $82.85 each, the insider now holds 392,038 shares.
Before that, GARCIA ERNEST C. III had sold 9,390 shares from its account. In a trade valued at $777,764, the Chief Executive Officer traded Carvana Co. shares for $82.83 each. Upon closing the transaction, the insider’s holdings decreased to 9,390 shares, worth approximately $59.58 million.
As published in a research note from Jefferies on March 12, 2024, Carvana Co. [CVNA] has been rated up from an Underperform to a Hold and the price target has been revised to $85 from $30. Analysts at RBC Capital Mkts upgraded the stock from ‘”an Underperform”‘ to ‘”a Sector perform”‘ outlook in a report released in early March. As of February 23, 2024, William Blair has increased its “Mkt perform” rating to a “an Outperform” for CVNA. Earlier on February 23, 2024, Raymond James upgraded its rating. Their new recommendation was “a Mkt perform” for CVNA stock which previously was a “an Underperform”.
Analyzing CVNA Stock Performance
During the last five days, there has been a drop of approximately -14.11%. Over the course of the year, Carvana Co. shares have jumped approximately 30.64%. Shares of the company reached a 52-week high of $94.04 on 03/26/24 and a 52-week low of $40.21 on 02/01/24. A 50-day SMA is recorded $73.60, while a 200-day SMA reached $49.11. Nevertheless, trading volume fell to 3.54 million shares from 5.89 million shares the previous day.
Support And Resistance Levels for Carvana Co. (CVNA)
According to the 24-hour chart, there is a support level at 66.94, which, if violated, would cause prices to drop to 64.73. In the upper region, resistance lies at 72.38. The next price resistance is at 75.61. RSI (Relative Strength Index) is 35.98 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -9.99, which suggests the price will decrease in the coming days. Percent R is at 94.97%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
