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

Key Points

• Ernest C. Garcia II, a major shareholder of Carvana, sold $17.23 million worth of shares on August 11, reducing his stake by 0.14%.
• Carvana's stock is currently trading at $345.77, reflecting a 0.2% increase, with a market cap of $74.41 billion.
• Recent analyst upgrades have raised Carvana’s price targets, with Piper Sandler setting a new target at $440.00 and the consensus rating at "Moderate Buy."

Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 50,000 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $344.68, for a total value of $17,234,000.00. Following the sale, the insider directly owned 34,620,292 shares in the company, valued at $11,932,922,246.56. This trade represents a 0.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Ernest C. Garcia II also recently made the following trade(s):

• On Tuesday, August 12th, Ernest C. Garcia II sold 82,888 shares of Carvana stock. The shares were sold at an average price of $346.26, for a total value of $28,700,798.88.
• On Wednesday, August 13th, Ernest C. Garcia II sold 95,087 shares of Carvana stock. The shares were sold at an average price of $349.09, for a total value of $33,193,920.83.
• On Friday, August 8th, Ernest C. Garcia II sold 72,500 shares of Carvana stock. The shares were sold at an average price of $348.07, for a total value of $25,235,075.00.
• On Thursday, August 7th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $359.63, for a total value of $35,963,000.00.
• On Tuesday, August 5th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $360.20, for a total value of $36,020,000.00.
• On Friday, August 1st, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $371.30, for a total value of $37,130,000.00.
• On Thursday, July 31st, Ernest C. Garcia II sold 6,624 shares of Carvana stock. The shares were sold at an average price of $409.89, for a total value of $2,715,111.36.
• On Wednesday, July 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $332.21, for a total value of $16,610,500.00.
• On Monday, July 28th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $335.66, for a total value of $16,783,000.00.
• On Friday, July 25th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $335.34, for a total value of $16,767,000.00.

Carvana Price Performance

NYSE:CVNA traded up $7.41 during trading hours on Friday, hitting $350.00. 3,650,161 shares of the stock were exchanged, compared to its average volume of 3,192,514. Carvana Co. has a 52-week low of $124.39 and a 52-week high of $413.33. The firm's fifty day moving average price is $337.99 and its 200 day moving average price is $275.67. 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 $75.32 billion, a P/E ratio of 87.72, a P/E/G ratio of 1.16 and a beta of 3.57.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Warren Street Wealth Advisors LLC increased its position in shares of Carvana by 2.8% during the second quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company's stock worth $388,000 after acquiring an additional 31 shares during the period. MAI Capital Management increased its position in shares of Carvana by 1.8% during the second quarter. MAI Capital Management now owns 1,757 shares of the company's stock worth $592,000 after acquiring an additional 31 shares during the period. Gilder Gagnon Howe & Co. LLC increased its position in shares of Carvana by 1.7% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company's stock worth $622,000 after acquiring an additional 31 shares during the period. Yousif Capital Management LLC increased its position in shares of Carvana by 4.1% during the first quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock worth $265,000 after acquiring an additional 50 shares during the period. Finally, Kingsview Wealth Management LLC increased its position in shares of Carvana by 1.2% during the second quarter. Kingsview Wealth Management LLC now owns 4,611 shares of the company's stock worth $1,554,000 after acquiring an additional 53 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVNA has been the subject of a number of research reports. Oppenheimer raised Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price target for the company in a research report on Friday, July 25th. Morgan Stanley lifted their price target on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Citigroup reaffirmed an "outperform" rating on shares of Carvana in a research report on Thursday, July 31st. DA Davidson lifted their price target on Carvana from $260.00 to $380.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Finally, Wedbush upgraded Carvana to a "hold" rating in a research note on Thursday, May 8th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $383.47.

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.