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 Carvana stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $337.51, for a total value of $3,375,100.00. Following the completion of the transaction, the chief executive officer owned 621,440 shares in the company, valued at $209,742,214.40. The trade was a 1.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Carvana Stock Up 1.7%

CVNA traded up $5.58 during midday trading on Friday, hitting $331.67. 2,065,059 shares of the company's stock traded hands, compared to its average volume of 2,795,500. Carvana Co. has a one year low of $118.50 and a one year high of $364.00. The stock's fifty day simple moving average is $328.40 and its 200-day simple moving average is $261.99. The company has a market cap of $71.02 billion, a PE ratio of 116.38, a price-to-earnings-growth ratio of 1.26 and a beta of 3.59. 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 (NYSE:CVNA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The company had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The business's quarterly revenue was up 38.3% compared to the same quarter last year. As a group, equities analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CVNA shares. Gordon Haskett started coverage on Carvana in a report on Monday, July 14th. They issued a "hold" rating and a $329.00 target price on the stock. 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. Bank of America lifted their price target on Carvana from $325.00 to $375.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Wedbush upgraded Carvana to a "hold" rating in a report on Thursday, May 8th. Finally, Stephens lifted their price target on Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $318.16.

Institutional Trading of Carvana

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hilltop National Bank bought a new position in shares of Carvana in the second quarter worth about $25,000. Brooklyn Investment Group increased its stake in shares of Carvana by 961.5% in 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 position in shares of Carvana in the first quarter worth about $33,000. SJS Investment Consulting Inc. increased its stake in shares of Carvana by 960.0% in the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company's stock worth $36,000 after purchasing an additional 96 shares during the period. Finally, LRI Investments LLC bought a new position in shares of Carvana in the second quarter worth about $42,000. Institutional investors and hedge funds own 56.71% of the company's stock.

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.