Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Carvana Co. shares valued at $1,674,424 were sold by KEETON RYAN S. on May 08 ’24. At $114.02 per share, KEETON RYAN S. sold 14,686 shares. The insider’s holdings dropped to 172,570 shares worth approximately $19.75 million following the completion of this transaction.
Also, QUAYLE J DANFORTH sold 14,558 shares, netting a total of over 1,650,732 in proceeds. Following the sale of shares at $113.39 each, the insider now holds 40,504 shares.
Before that, GARCIA ERNEST C. II had sold 60,000 shares from its account. In a trade valued at $7,219,642, the 10% Owner traded Carvana Co. shares for $120.33 each. Upon closing the transaction, the insider’s holdings decreased to 60,000 shares, worth approximately $326.96 million.
As published in a research note from JP Morgan on May 02, 2024, Carvana Co. [CVNA] has been rated up from a Neutral to an Overweight and the price target has been revised to $130 from $70. Analysts at Jefferies upgraded the stock from ‘”an Underperform”‘ to ‘”a Hold”‘ outlook in a report released in mid March. As of March 08, 2024, RBC Capital Mkts has increased its “an Underperform” rating to a “Sector perform” for CVNA. Earlier on February 23, 2024, William Blair upgraded its rating. Their new recommendation was “an Outperform” for CVNA stock which previously was a “a Mkt perform”.
Analyzing CVNA Stock Performance
During the last five days, there has been a surge of approximately 31.38%. Over the course of the year, Carvana Co. shares have jumped approximately 116.13%. Shares of the company reached a 52-week high of $129.00 on 05/06/24 and a 52-week low of $40.21 on 02/01/24. A 50-day SMA is recorded $84.13, while a 200-day SMA reached $53.17. Nevertheless, trading volume fell to 3.65 million shares from 7.06 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 112.56, which, if violated, would cause prices to drop to 110.70. In the upper region, resistance lies at 116.34. The next price resistance is at 118.26. RSI (Relative Strength Index) is 72.01 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 25.05, which suggests the price will increase in the coming days. Percent R is at 23.75%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
