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 dated Wednesday, July 23rd. The shares were 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 approximately $209,742,214.40. This represents a 1.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Carvana Stock Down 4.8%

Shares of CVNA traded down $16.55 on Thursday, hitting $326.46. The company's stock had a trading volume of 2,650,799 shares, compared to its average volume of 4,259,152. The company has a quick ratio of 2.70, a current ratio of 3.81 and a debt-to-equity ratio of 2.97. The firm's fifty day moving average price is $326.43 and its 200-day moving average price is $259.56. 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 $69.91 billion, a price-to-earnings ratio of 114.55, a P/E/G ratio of 1.33 and a beta of 3.59.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its position in shares of Carvana by 13.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock worth $3,125,749,000 after purchasing an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock worth $2,620,785,000 after acquiring an additional 1,109,476 shares during the period. Durable Capital Partners LP boosted its stake in shares of Carvana by 6.3% during the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock worth $440,932,000 after acquiring an additional 129,246 shares during the period. Geode Capital Management LLC boosted its stake in shares of Carvana by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock worth $381,592,000 after acquiring an additional 75,250 shares during the period. Finally, Whale Rock Capital Management LLC boosted its stake in shares of Carvana by 29.8% during the 4th quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company's stock worth $247,017,000 after acquiring an additional 278,760 shares during the period. Institutional investors and hedge funds own 56.71% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on CVNA shares. JMP Securities set a $440.00 price target on Carvana and gave the company a "market outperform" rating in a report on Wednesday, July 2nd. Wells Fargo & Company raised their price target on Carvana from $310.00 to $390.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Stephens raised 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. Needham & Company LLC reiterated a "buy" rating and issued a $340.00 price target on shares of Carvana in a report on Thursday, May 8th. Finally, William Blair reissued an "outperform" rating on shares of Carvana in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $310.83.

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.

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