Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells 75,000 Shares of Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $133.41, for a total transaction of $10,005,750.00. Following the completion of the transaction, the insider now owns 1,565,814 shares of the company’s stock, valued at approximately $208,895,245.74. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Ernest C. Garcia II also recently made the following trade(s):

• On Friday, July 12th, Ernest C. Garcia II sold 37,500 shares of Carvana stock. The shares were sold at an average price of $136.63, for a total transaction of $5,123,625.00.

Carvana Stock Performance

Shares of CVNA stock opened at $137.20 on Friday. The company has a market cap of $27.79 billion, a price-to-earnings ratio of 60.18 and a beta of 3.37. Carvana Co. has a 52 week low of $25.09 and a 52 week high of $154.00. The company has a quick ratio of 1.62, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. The firm has a 50 day moving average of $120.56 and a 200-day moving average of $92.52.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.35. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.72 billion. On average, equities analysts forecast that Carvana Co. will post -0.71 earnings per share for the current year.

Institutional Trading of Carvana

Hedge funds have recently bought and sold shares of the business. Ridgewood Investments LLC acquired a new stake in Carvana in the 2nd quarter valued at $32,000. Summit Securities Group LLC grew its position in Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares during the period. Fifth Third Bancorp grew its position in Carvana by 450.8% in the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares during the period. GAMMA Investing LLC grew its position in Carvana by 127.9% in the 2nd quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock valued at $59,000 after purchasing an additional 257 shares during the period. Finally, Hilltop National Bank acquired a new stake in Carvana in the 2nd quarter valued at $68,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CVNA shares. BTIG Research raised their price objective on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI raised their price objective on shares of Carvana from $135.00 to $140.00 and gave the company an “in-line” rating in a report on Tuesday, July 16th. Wedbush reiterated a “neutral” rating and issued a $120.00 price objective on shares of Carvana in a report on Monday, July 29th. TD Cowen increased their target price on shares of Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research report on Thursday. Finally, William Blair reissued an “outperform” rating on shares of Carvana in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Carvana presently has an average rating of “Hold” and an average target price of $143.60.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.