Carvana Co. (NYSE:CVNA) executive Paul Breaux, who serves as Vice President, General Counsel, and Secretary, has sold a total of $434,101 worth of company stock, according to the latest SEC filings. The transactions occurred on April 2, 2024, and involved the sale of shares at prices ranging from $82.74 to $83.43.
The sales were executed in multiple trades, with the reported prices reflecting the volume-weighted average sale price for the shares. As stated in the footnotes of the SEC filing, the shares sold by Breaux were primarily to cover the required taxes upon the vesting of restricted stock units under various awards.
The latest SEC Form 4 filing details three separate sales transactions of Carvana's Class A Common Stock by Breaux. The first transaction saw the sale of 5,065 shares at $82.85 per share, followed by a sale of 100 shares at $83.43 per share, and finally, 74 shares were sold at $82.74 per share. Following these transactions, Breaux's remaining ownership in the company stands at 109,793 shares of Class A Common Stock.
Investors and market watchers often scrutinize insider selling for hints about executives' confidence in their company's prospects. However, sales like these, which are related to tax obligations, are a routine part of compensation for many executives.
Carvana, known for its online car buying and selling platform, has been a notable player in the retail automotive industry. As with any insider transaction, investors may keep an eye on the company's stock performance and any potential impact these sales may have.
For further details on the transactions, the SEC filing includes a commitment by Breaux to provide full information regarding the number of shares sold at each specific price upon request.
InvestingPro Insights
In light of recent insider transactions at Carvana Co. (NYSE:CVNA), investors may be interested in some key financial metrics and expert analyses from InvestingPro. According to real-time data, Carvana's market capitalization stands at approximately $16.81 billion USD, reflecting the company's overall market value. The company's P/E ratio is currently at 20.16, indicating how much investors are willing to pay for each dollar of earnings, which is a metric of particular interest given the company's recent performance.
One notable InvestingPro Tip is that 4 analysts have revised their earnings upwards for the upcoming period, which could signal anticipated improvements in Carvana's financial health or performance. Additionally, Carvana's stock has experienced significant price volatility, as indicated by a sharp decline over the last week, with the stock price taking a big hit. This level of volatility is a critical factor for investors to consider, especially in the context of insider sales.
Moreover, Carvana's stock is trading at a low P/E ratio relative to near-term earnings growth, suggesting that it may be undervalued based on future earnings prospects. This is an essential point for investors who are evaluating the company's stock following the recent insider transactions. For those interested in a deeper dive into Carvana's financials and additional expert analyses, InvestingPro offers a comprehensive set of InvestingPro Tips. There are 17 additional tips available, providing a more detailed perspective on Carvana's financial position and future outlook.
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Investors monitoring Carvana's progress can also note the company's next earnings date, which is scheduled for April 17, 2024. This upcoming report may provide further clarity on the company's financial trajectory and the potential implications of insider sales like those conducted by Paul Breaux.
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