Insider Selling: Carvana Co. (NYSE:CVNA) CEO Sells 9,580 Shares of Stock

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 9,580 shares of Carvana stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $329.40, for a total transaction of $3,155,652.00. Following the sale, the chief executive officer owned 701,650 shares of the company's stock, valued at approximately $231,123,510. This represents a 1.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Carvana Stock Up 0.6%

Shares of CVNA traded up $1.86 on Tuesday, hitting $338.82. The company's stock had a trading volume of 3,329,099 shares, compared to its average volume of 3,860,941. The firm's fifty day moving average price is $296.34 and its 200-day moving average price is $245.59. Carvana Co. has a fifty-two week low of $118.50 and a fifty-two week high of $351.43. 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 has a market capitalization of $72.55 billion, a price-to-earnings ratio of 118.23, a P/E/G ratio of 1.31 and a beta of 3.59.

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, beating analysts' consensus estimates of $0.75 by $0.76. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The business'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.

Analyst Upgrades and Downgrades

CVNA has been the topic of a number of recent research reports. Wall Street Zen cut shares of Carvana from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. JPMorgan Chase & Co. reduced their price target on Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $340.00 price objective on shares of Carvana in a research note on Thursday, May 8th. Royal Bank Of Canada increased their target price on Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Wedbush upgraded Carvana to a "hold" rating in a report on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Carvana has a consensus rating of "Moderate Buy" and an average target price of $284.18.

Institutional Investors Weigh In On Carvana

Several institutional investors have recently added to or reduced their stakes in the stock. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Carvana in the first quarter valued at about $1,448,000. Swedbank AB raised its position in Carvana by 29.2% in the 1st quarter. Swedbank AB now owns 69,013 shares of the company's stock valued at $14,429,000 after buying an additional 15,600 shares during the last quarter. Strs Ohio bought a new stake in Carvana in the 1st quarter valued at approximately $852,000. Geneos Wealth Management Inc. boosted its position in Carvana by 251.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock worth $53,000 after acquiring an additional 181 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its position in Carvana by 0.6% during the 1st quarter. IFM Investors Pty Ltd now owns 21,061 shares of the company's stock worth $4,403,000 after acquiring an additional 135 shares during the last quarter. 56.71% of the stock is owned by institutional investors.

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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