Insider Selling: Carvana Co. (NYSE:CVNA) CEO Sells 10,000 Shares of Stock

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $318.55, for a total transaction of $3,185,500.00. Following the sale, the chief executive officer now directly owns 800,000 shares of the company's stock, valued at $254,840,000. The trade was a 1.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Carvana Stock Performance

CVNA stock traded up $6.90 during trading on Tuesday, reaching $338.34. 1,893,743 shares of the company's stock were exchanged, compared to its average volume of 4,580,805. Carvana Co. has a 1-year low of $97.92 and a 1-year high of $340.94. The company's fifty day moving average price is $247.69 and its 200-day moving average price is $235.72. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The firm has a market cap of $72.45 billion, a PE ratio of 215.50 and a beta of 3.61.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period in the prior year, the business posted $0.23 EPS. The business's revenue for the quarter was up 38.3% compared to the same quarter last year. On average, research analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Carvana

Hedge funds have recently modified their holdings of the company. Brooklyn Investment Group lifted its holdings in shares of Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after buying an additional 125 shares during the period. Quent Capital LLC acquired a new position in Carvana during the fourth quarter worth about $28,000. Global Retirement Partners LLC raised its position in Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after acquiring an additional 78 shares in the last quarter. Rialto Wealth Management LLC acquired a new stake in Carvana in the 4th quarter valued at about $31,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Carvana in the 1st quarter valued at about $33,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $340.00 price target on shares of Carvana in a report on Thursday, May 8th. William Blair reissued an "outperform" rating on shares of Carvana in a research report on Thursday, February 20th. Wells Fargo & Company increased their price target on shares of Carvana from $290.00 to $310.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. decreased their price target on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Finally, Stephens restated an "overweight" rating and set a $300.00 price objective on shares of Carvana in a research note on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Carvana has a consensus rating of "Moderate Buy" and a consensus target price of $275.65.

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.