Insider Selling: Carvana Co. (NYSE:CVNA) CEO Sells 10,000 Shares of Stock

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $348.68, for a total value of $3,486,800.00. Following the sale, the chief executive officer directly owned 671,440 shares of the company's stock, valued at $234,117,699.20. This represents a 1.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Carvana Stock Performance

Shares of CVNA traded down $2.22 during mid-day trading on Friday, hitting $343.33. The stock had a trading volume of 1,873,600 shares, compared to its average volume of 3,828,148. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70. Carvana Co. has a 52 week low of $118.50 and a 52 week high of $364.00. The firm has a market cap of $73.52 billion, a P/E ratio of 120.47, a PEG ratio of 1.35 and a beta of 3.59. The business has a fifty day moving average price of $315.96 and a 200-day moving average price of $252.46.

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

Hedge Funds Weigh In On Carvana

Hedge funds and other institutional investors have recently modified their holdings of the company. Yousif Capital Management LLC raised its position in Carvana by 4.1% during the 1st 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 during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Carvana by 5.2% during the 1st 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 during the last quarter. Commerce Bank raised its position in Carvana by 1.6% during the 1st quarter. Commerce Bank now owns 4,446 shares of the company's stock valued at $930,000 after purchasing an additional 69 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Carvana by 3.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company's stock worth $466,000 after acquiring an additional 72 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Carvana by 21.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock worth $87,000 after acquiring an additional 74 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVNA has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on Carvana from $290.00 to $310.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Wall Street Zen upgraded Carvana from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Needham & Company LLC reiterated a "buy" rating and set a $340.00 price target on shares of Carvana in a report on Thursday, May 8th. Evercore ISI lifted their price target on Carvana from $295.00 to $305.00 and gave the stock an "in-line" rating in a report on Tuesday, June 24th. Finally, Citigroup lifted their price target on Carvana from $325.00 to $415.00 and gave the stock a "buy" rating in a report on Tuesday. Six investment 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 has an average rating of "Moderate Buy" and a consensus price target of $303.59.

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.