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 stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $308.24, for a total transaction of $3,082,400.00. Following the completion of the sale, the chief executive officer directly owned 706,440 shares of the company's stock, valued at approximately $217,753,065.60. This trade represents a 1.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Carvana Trading Up 1.5%

CVNA traded up $5.19 during mid-day trading on Wednesday, hitting $343.45. 2,986,693 shares of the stock were exchanged, compared to its average volume of 3,860,126. The firm's fifty day moving average is $301.34 and its two-hundred day moving average is $246.91. Carvana Co. has a 1-year low of $118.50 and a 1-year high of $351.43. The company has a market cap of $73.55 billion, a PE ratio of 120.51, a PEG ratio of 1.32 and a beta of 3.59. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.76. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The business had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. During the same quarter in the prior year, the company earned $0.23 earnings per share. The business's quarterly revenue was up 38.3% on a year-over-year basis. Equities analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. JMP Securities set a $440.00 price target on shares of Carvana and gave the company a "market outperform" rating in a research report on Wednesday. Citigroup reissued an "outperform" rating on shares of Carvana in a research note on Wednesday. Morgan Stanley upped their price target on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. lowered their price target on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Finally, Royal Bank Of Canada raised their price objective on Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Carvana has a consensus rating of "Moderate Buy" and a consensus price target of $293.88.

Institutional Trading of Carvana

Several hedge funds have recently modified their holdings of CVNA. Price T Rowe Associates Inc. MD lifted its stake in Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock worth $3,125,749,000 after acquiring an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Carvana by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock valued at $2,620,785,000 after purchasing an additional 1,109,476 shares in the last quarter. Norges Bank purchased a new stake in shares of Carvana during the 4th quarter worth $179,364,000. Castle Hook Partners LP purchased a new stake in shares of Carvana during the 4th quarter worth $116,020,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Carvana by 89.8% during the fourth quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock worth $207,086,000 after purchasing an additional 481,912 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.