Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells 96,026 Shares of Stock

Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 96,026 shares of the business's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $348.75, for a total value of $33,489,067.50. Following the sale, the insider owned 36,042,792 shares in the company, valued at approximately $12,569,923,710. The trade was a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

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

• 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 value of $35,240,000.00.
• On Tuesday, July 15th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $343.97, for a total value 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 value of $34,462,138.56.
• On Thursday, July 10th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $352.36, for a total value 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 value of $35,376,000.00.
• On Wednesday, July 2nd, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $340.07, for a total value of $17,003,500.00.
• On Monday, June 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $327.07, for a total value of $16,353,500.00.
• On Wednesday, June 25th, Ernest C. Garcia II sold 4,971 shares of Carvana stock. The stock was sold at an average price of $325.15, for a total value of $1,616,320.65.
• On Tuesday, June 24th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $325.81, for a total value of $16,290,500.00.
• On Wednesday, June 11th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $337.46, for a total value of $16,873,000.00.

Carvana Trading Down 1.4%

CVNA traded down $4.70 during trading on Friday, reaching $341.40. 1,379,614 shares of the company's stock were exchanged, compared to its average volume of 3,778,427. The company's fifty day moving average price is $322.61 and its 200-day moving average price is $256.05. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. Carvana Co. has a fifty-two week low of $118.50 and a fifty-two week high of $364.00. The firm has a market capitalization of $73.11 billion, a PE ratio of 119.78, a P/E/G ratio of 1.37 and a beta of 3.59.

Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping 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 firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same period in the previous year, the company posted $0.23 earnings per share. The company's revenue for the quarter was up 38.3% on a year-over-year basis. As a group, equities analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Institutional Trading of Carvana

Several large investors have recently made changes to their positions in CVNA. Brooklyn Investment Group lifted its holdings in shares of Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after purchasing an additional 125 shares during the period. N.E.W. Advisory Services LLC bought a new stake in shares of Carvana during the first quarter worth about $33,000. SJS Investment Consulting Inc. increased its position in shares of Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company's stock worth $36,000 after acquiring an additional 96 shares in the last quarter. Transce3nd LLC bought a new stake in Carvana in the 4th quarter worth about $48,000. Finally, Geneos Wealth Management Inc. grew its position in Carvana by 251.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock worth $53,000 after purchasing an additional 181 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CVNA. Wells Fargo & Company lifted their target price on Carvana from $290.00 to $310.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Citigroup lifted their target price on Carvana from $325.00 to $415.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Evercore ISI lifted their target price on Carvana from $295.00 to $305.00 and gave the stock an "in-line" rating in a report on Tuesday, June 24th. JMP Securities set a $440.00 target price on Carvana and gave the stock a "market outperform" rating in a report on Wednesday, July 2nd. Finally, Gordon Haskett began coverage on shares of Carvana in a research report on Monday. They issued a "hold" rating and a $329.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $305.00.

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.