Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Carvana Co. shares valued at $1,039,230 were sold by PLATT IRA J. on Aug 13 ’24. At $141.62 per share, PLATT IRA J. sold 7,338 shares. The insider’s holdings dropped to 30,891 shares worth approximately $4.68 million following the completion of this transaction.
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Also, PLATT IRA J. sold 664 shares, netting a total of over 99,600 in proceeds. Following the sale of shares at $150.00 each, the insider now holds 30,227 shares.
Before that, GARCIA ERNEST C. II had sold 75,000 shares from its account. In a trade valued at $10,784,658, the 10% Owner traded Carvana Co. shares for $143.80 each. Upon closing the transaction, the insider’s holdings decreased to 75,000 shares, worth approximately $119.86 million.
As published in a research note from Wells Fargo on August 01, 2024, Carvana Co. [CVNA] has been rated up from an Equal weight to an Overweight and the price target has been revised to $175. As of July 12, 2024, BTIG Research has initiated its “Buy” rating for CVNA. Earlier on July 10, 2024, Needham upgraded its rating. Their new recommendation was “a Buy” for CVNA stock which previously was a “a Hold”.
Analyzing CVNA Stock Performance
During the last five days, there has been a surge of approximately 13.60%. Over the course of the year, Carvana Co. shares have jumped approximately 186.29%. Shares of the company reached a 52-week high of $154.00 on 08/01/24 and a 52-week low of $40.21 on 02/01/24. A 50-day SMA is recorded $126.29, while a 200-day SMA reached $80.62. Nevertheless, trading volume fell to 4.13 million shares from 3.26 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 145.17, which, if violated, would cause prices to drop to 138.78. In the upper region, resistance lies at 155.41. The next price resistance is at 159.26. RSI (Relative Strength Index) is 62.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 9.75, which suggests the price will increase in the coming days. Percent R is at 6.87%, indicating bullish price movement. Stochastics%K at holding indicates that the stock is to be held.
