Insider Sale: Chief Product Officer Daniel Gill Sells 29,700 Shares of Carvana Co (CVNA)
Are you an investor looking for the latest insider trading news? Well, look no further! On May 2, 2024, Daniel Gill, the Chief Product Officer of Carvana Co (NYSE:CVNA), made a significant move by selling 29,700 shares of the company. This transaction was filed with the SEC on the same day, adding to a total of 40,035 shares sold by Gill over the past year.
Carvana Co, known for its innovative e-commerce platform for buying and selling used cars in the United States, has been making waves in the industry with its automated car vending machines. With headquarters in Tempe, Arizona, the company has been attracting attention from investors.
The shares of Carvana Co were priced at $117.34 on the day of the sale, bringing the company’s market cap to approximately $14.23 billion. However, the price-earnings ratio of the stock stands at 56.33, which is above the industry median of 16.94, indicating that the stock may be overvalued.
According to the GF Value, Carvana Co is significantly overvalued with a price-to-GF-Value ratio of 4.48. The GF Value of $26.21 suggests a substantial premium compared to the current trading price, raising concerns for potential investors.
The insider transaction history for Carvana Co shows a trend of more insider sales than buys over the past year, with 28 insider sells and only 2 insider buys. This recent sale by Chief Product Officer Daniel Gill adds to the ongoing trend of insider sales at Carvana Co, which could be a red flag for investors.
While this article provides general insights based on historical data and analyst projections, it is important to note that it is not tailored financial advice. Investors should conduct their own research and consider their individual investment objectives before making any decisions.
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