Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells 50,000 Shares of Stock

Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 50,000 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $341.08, for a total transaction of $17,054,000.00. Following the completion of the sale, the insider directly owned 35,742,792 shares of the company's stock, valued at approximately $12,191,151,495.36. This represents a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large 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 Monday, July 21st, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $342.96, for a total transaction of $17,148,000.00.
• On Wednesday, July 16th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $352.40, for a total transaction of $35,240,000.00.
• On Tuesday, July 15th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $343.97, for a total transaction of $17,198,500.00.
• On Monday, July 14th, Ernest C. Garcia II sold 98,528 shares of Carvana stock. The stock was sold at an average price of $349.77, for a total transaction of $34,462,138.56.
• On Friday, July 11th, Ernest C. Garcia II sold 96,026 shares of Carvana stock. The stock was sold at an average price of $348.75, for a total transaction of $33,489,067.50.
• On Thursday, July 10th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $352.36, for a total transaction of $35,236,000.00.
• On Tuesday, July 8th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $353.76, for a total transaction of $35,376,000.00.
• On Wednesday, July 2nd, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $340.07, for a total transaction of $17,003,500.00.
• On Monday, June 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $327.07, for a total transaction of $16,353,500.00.
• On Wednesday, June 25th, Ernest C. Garcia II sold 4,971 shares of Carvana stock. The shares were sold at an average price of $325.15, for a total transaction of $1,616,320.65.

Carvana Stock Performance

Shares of CVNA traded down $16.55 on Thursday, reaching $326.46. The company's stock had a trading volume of 2,650,799 shares, compared to its average volume of 2,845,281. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70. The stock has a market capitalization of $69.91 billion, a P/E ratio of 114.55, a PEG ratio of 1.33 and a beta of 3.59. The stock's 50 day simple moving average is $327.76 and its two-hundred day simple moving average is $261.07. Carvana Co. has a 12-month low of $118.50 and a 12-month high of $364.00.

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

Wall Street Analysts Forecast Growth

CVNA has been the subject of a number of analyst reports. Robert W. Baird raised their price objective on shares of Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. raised their price objective on shares of Carvana from $325.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday. Wall Street Zen upgraded shares of Carvana from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. William Blair reiterated an "outperform" rating on shares of Carvana in a research note on Wednesday. Finally, Stephens lifted their price target on shares of Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Carvana currently has an average rating of "Moderate Buy" and a consensus price target of $310.83.

Hedge Funds Weigh In On Carvana

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Warren Street Wealth Advisors LLC lifted its holdings in Carvana by 2.8% during the second quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company's stock valued at $388,000 after purchasing an additional 31 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in Carvana by 4.1% during the first quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock valued at $265,000 after purchasing an additional 50 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Carvana by 5.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company's stock valued at $256,000 after purchasing an additional 60 shares in the last quarter. Commerce Bank lifted its holdings in Carvana by 1.6% during the first quarter. Commerce Bank now owns 4,446 shares of the company's stock valued at $930,000 after purchasing an additional 69 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Carvana by 3.3% during the first quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company's stock valued at $466,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

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.