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 business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $137.34, for a total value of $10,300,500.00. Following the completion of the transaction, the insider now owns 1,390,814 shares in the company, valued at $191,014,394.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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 value of $5,123,625.00.

Carvana Price Performance

Carvana stock traded down $1.89 during midday trading on Monday, reaching $135.31. The company had a trading volume of 6,133,585 shares, compared to its average volume of 5,545,817. The company has a market capitalization of $27.41 billion, a P/E ratio of 57.74 and a beta of 3.37. Carvana Co. has a 12-month low of $25.09 and a 12-month high of $154.00. The firm’s fifty day simple moving average is $120.56 and its 200-day simple moving average is $92.87. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 1.62.

Analyst Upgrades and Downgrades

CVNA has been the topic of several research reports. BTIG Research lifted their target price on Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday. Robert W. Baird initiated coverage on Carvana in a research note on Thursday. They set a “neutral” rating and a $160.00 target price on the stock. Royal Bank of Canada boosted their price target on Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a report on Thursday, May 2nd. TD Cowen boosted their price target on Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a report on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on Carvana from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Carvana presently has an average rating of “Hold” and a consensus target price of $143.60.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Carvana by 39.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after buying an additional 2,112,463 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Carvana by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after buying an additional 655,603 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Carvana during the 2nd quarter worth approximately $39,997,000. First Trust Advisors LP increased its holdings in shares of Carvana by 17.1% during the 4th quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock worth $78,560,000 after buying an additional 216,893 shares during the last quarter. Finally, Steadview Capital Management LLC increased its holdings in shares of Carvana by 15.6% during the 4th quarter. Steadview Capital Management LLC now owns 876,905 shares of the company’s stock worth $46,423,000 after buying an additional 118,500 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Company Profile

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.