Carvana Co. (NYSE:CVNA) Insider Sells $31,912,800.00 in Stock

Key Points

• Carvana insider Daniel J. Gill sold 80,000 shares for $31.9 million, resulting in a 28.79% decrease in his ownership of the stock.
• Carvana's latest quarterly earnings report showed a net margin of 3.46% and revenue of $4.84 billion, exceeding analysts' estimates.
• Analyst ratings for Carvana are generally positive, with 13 buy ratings and an average price target of $379.65, reflecting growing investor confidence.

Carvana Co. (NYSE:CVNA - Get Free Report) insider Daniel J. Gill sold 80,000 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $398.91, for a total value of $31,912,800.00. Following the completion of the transaction, the insider directly owned 197,832 shares in the company, valued at approximately $78,917,163.12. This represents a 28.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Carvana Trading Down 1.9%

CVNA traded down $6.99 during mid-day trading on Monday, hitting $360.79. 3,782,462 shares of the stock were exchanged, compared to its average volume of 4,271,004. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. The company has a market cap of $77.26 billion, a PE ratio of 90.42, a PEG ratio of 1.25 and a beta of 3.57. The firm's fifty day moving average is $333.58 and its two-hundred day moving average is $268.06. Carvana Co. has a 1-year low of $118.50 and a 1-year high of $413.33.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the company posted ($0.05) earnings per share. The business's revenue for the quarter was up 41.9% on a year-over-year basis. Equities analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carvana

Several large investors have recently bought and sold shares of CVNA. Price T Rowe Associates Inc. MD boosted its holdings in shares of Carvana by 13.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock valued at $3,125,749,000 after buying an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. increased 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 acquiring an additional 1,109,476 shares during the period. Durable Capital Partners LP raised its position in Carvana by 6.3% in the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock valued at $440,932,000 after purchasing an additional 129,246 shares during the last quarter. Whale Rock Capital Management LLC boosted its stake in Carvana by 29.8% during the 4th quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company's stock worth $247,017,000 after purchasing an additional 278,760 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings 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 valued at $207,086,000 after buying an additional 481,912 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CVNA. Gordon Haskett began coverage on shares of Carvana in a report on Monday, July 14th. They issued a "hold" rating and a $329.00 price target on the stock. Stephens upped their price target on Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. JMP Securities raised their target price on shares of Carvana from $440.00 to $460.00 and gave the stock a "market outperform" rating in a report on Thursday. Citigroup reaffirmed an "outperform" rating on shares of Carvana in a report on Thursday. Finally, Wells Fargo & Company raised their price target on shares of Carvana from $390.00 to $425.00 and gave the company an "overweight" rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Carvana presently has an average rating of "Moderate Buy" and an average price target of $379.65.

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.

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