TEMPE, Ariz.—Daniel J. Gill, Chief Product Officer at Carvana Co. (NYSE: ), made several stock payments reported in a recent SEC filing. On October 31 and November 1, Gill sold a total of 39,012 shares of Carvana’s Class A common stock, valued at approximately $10.8 million. Shares traded at prices ranging from $235.90 to $247.31 per share.
In addition to the sale, Gill also had a transaction related to restricted stock units. On October 30, he received 19,879 shares for free. However, he disposed of 10,899 shares at prices between $207.31 and $229.08 to pay tax obligations on restricted stock units.
Following this transaction, Gill’s direct ownership of Carvana shares stands at 247,267.
In other recent news, Carvana, an online used car dealer, reported record Q3 earnings for 2024. The company experienced a year-over-year increase in unit sales of 34%, which increased revenue by 32%. Key financial indicators include revenue of $148 million, operating income of $337 million, and adjusted EBITDA of $429 million for the quarter. As a result of this development, Carvana plans to increase its advertising revenue by $5 million to $10 million in Q4. The company also expects continued growth, with projected EBITDA set at more than $1.0 billion to $1.2 billion for the full year 2024. In addition, Carvana integrates ADESA assets to improve efficiency. However, it is important to note that non-GAAP SG&A expenses increased 10% to $406 million. These are all recent developments in the company’s operations and strategic direction.
InvestingPro Insights
The latest stock transaction by Carvana’s Chief Product Officer, Daniel J. Gill, comes at a time when the company’s stock has shown impressive performance. According to InvestingPro data, Carvana has experienced a massive price gain of 781.42% over the past year, and a return of 163.04% over the past six months. This impressive rally is consistent with the high sales prices of $235.90 to $247.31 per share reported in Gill’s operations.
InvestingPro Tips highlights that Carvana has a perfect Piotroski Score of 9, indicating strong financial health. This can explain the reliance on the company’s strengths, despite internal sales. In addition, analysts expect sales growth in the current year, which may contribute to the positive growth of the stock.
However, investors should be aware that Carvana trades at a high multiple. The company’s P/E ratio stands at 1,600, and its Price to Book ratio is 81.65, suggesting the stock is a bargain. The InvestingPro tip also indicates that the RSI suggests that the stock is in overbought territory, which may prompt potential investors to be cautious.
For those looking for a comprehensive analysis, InvestingPro offers 20 additional tips on Carvana, which provide in-depth information about the company’s financial position and market performance.
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