Insider Selling: Carvana Co. (NYSE:CVNA) CEO Sells 7,254 Shares of Stock

Key Points

• Carvana CEO Ernest C. Garcia III sold 7,254 shares of the company's stock for approximately $2.62 million, reducing his ownership stake by 1.23% to hold 582,813 shares valued at around $210.44 million.
• Carvana reported a net margin of 3.46% and a year-over-year revenue growth of 41.9%, with earnings per share (EPS) of $1.28 for the quarter, exceeding analysts' expectations.
• Recent analyst upgrades indicate a consensus positive outlook for Carvana, with a consensus price target of $379.65 and ratings ranging from "neutral" to "outperform."

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 7,254 shares of Carvana stock in a transaction on Monday, August 4th. The stock was sold at an average price of $361.07, for a total value of $2,619,201.78. Following the completion of the sale, the chief executive officer directly owned 582,813 shares of the company's stock, valued at $210,436,289.91. The trade was a 1.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Carvana Price Performance

Shares of Carvana stock traded down $9.23 during trading hours on Tuesday, hitting $351.43. The company's stock had a trading volume of 3,348,974 shares, compared to its average volume of 4,264,759. The business has a 50 day moving average price of $334.70 and a two-hundred day moving average price of $268.97. Carvana Co. has a 12-month low of $124.39 and a 12-month high of $413.33. The company has a market cap of $75.26 billion, a PE ratio of 88.08, a PEG ratio of 1.25 and a beta of 3.57. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the firm earned ($0.05) EPS. The business's revenue was up 41.9% on a year-over-year basis. Analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carvana

Institutional investors have recently added to or reduced their stakes in the company. J.Safra Asset Management Corp grew its holdings in shares of Carvana by 140.8% in the first quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock valued at $709,000 after purchasing an additional 1,982 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new position in Carvana during the fourth quarter valued at $51,091,000. Farther Finance Advisors LLC grew its stake in shares of Carvana by 333.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock worth $740,000 after buying an additional 2,678 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Carvana in the 4th quarter worth about $36,527,000. Finally, Brucke Financial Inc. bought a new stake in shares of Carvana in the 4th quarter worth about $415,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. DA Davidson lifted their price objective on Carvana from $260.00 to $380.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Stephens upped their target price on shares of Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Robert W. Baird increased their price target on shares of Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. boosted their price objective on shares of Carvana from $350.00 to $415.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, Royal Bank Of Canada upped their price objective on Carvana from $400.00 to $460.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $379.65.

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.

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