Insider Selling: Carvana Co. (NYSE:CVNA) CEO Sells 7,120 Shares of Stock

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 7,120 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $302.57, for a total value of $2,154,298.40. Following the sale, the chief executive officer now owns 741,440 shares of the company's stock, valued at approximately $224,337,500.80. This represents a 0.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Carvana Price Performance

CVNA traded up $13.55 during trading on Wednesday, hitting $307.53. The company's stock had a trading volume of 3,525,797 shares, compared to its average volume of 3,943,915. 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 Co. has a twelve month low of $106.32 and a twelve month high of $351.43. The business's fifty day simple moving average is $278.43 and its 200 day simple moving average is $241.88. The firm has a market capitalization of $65.85 billion, a price-to-earnings ratio of 107.90, a P/E/G ratio of 1.14 and a beta of 3.65.

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

Wall Street Analyst Weigh In

CVNA has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price objective on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Stephens reaffirmed an "overweight" rating and set a $300.00 price target on shares of Carvana in a research report on Monday, March 3rd. Needham & Company LLC reissued a "buy" rating and issued a $340.00 price objective on shares of Carvana in a report on Thursday, May 8th. Morgan Stanley increased their price objective on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Finally, JMP Securities cut their price objective on Carvana from $340.00 to $275.00 and set a "market outperform" rating on the stock in a report on Wednesday, April 9th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, Carvana has an average rating of "Moderate Buy" and a consensus price target of $283.59.

Institutional Trading of Carvana

Several institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of 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. boosted its stake in shares of Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock worth $2,620,785,000 after acquiring an additional 1,109,476 shares during the last quarter. Norges Bank acquired a new stake in shares of Carvana in the fourth quarter worth approximately $179,364,000. Castle Hook Partners LP acquired a new stake in shares of Carvana in the fourth quarter worth approximately $116,020,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Carvana by 89.8% in the fourth quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock worth $207,086,000 after acquiring an additional 481,912 shares during the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

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.