Insider Selling: Carvana Co. (NYSE:CVNA) Insider Sells 15,000 Shares of Stock

Key Points

• Paul W. Breaux, an insider at Carvana Co. (NYSE:CVNA), sold 15,000 shares on August 4th for approximately $5.51 million, reducing his stake by 11.65% to 113,792 shares.
• Carvana's stock price has recently experienced a decline, trading down 1.9% to $360.79, despite the company posting a strong earnings beat with $1.28 EPS for the last quarter, surpassing estimates.
• Analysts have a consensus rating of Moderate Buy for Carvana, with a target price averaging $379.65, showing optimism about its financial performance and recent stock activity.

Carvana Co. (NYSE:CVNA - Get Free Report) insider Paul W. Breaux sold 15,000 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $367.34, for a total value of $5,510,100.00. Following the transaction, the insider owned 113,792 shares of the company's stock, valued at approximately $41,800,353.28. The trade was a 11.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Carvana Stock Down 1.9%

NYSE CVNA traded down $6.99 during midday trading on Monday, hitting $360.79. 3,782,462 shares of the company traded hands, compared to its average volume of 4,271,004. Carvana Co. has a 52 week low of $118.50 and a 52 week high of $413.33. The company's 50-day simple moving average is $333.58 and its 200-day simple moving average is $268.06. The company has a market cap of $77.26 billion, a PE ratio of 90.42, a price-to-earnings-growth ratio of 1.25 and a beta of 3.57. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping analysts' consensus estimates 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 period in the previous year, the company posted ($0.05) earnings per share. The firm's revenue was up 41.9% on a year-over-year basis. As a group, equities research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVNA. Simon Quick Advisors LLC raised its holdings in shares of Carvana by 20.7% in the second quarter. Simon Quick Advisors LLC now owns 1,484 shares of the company's stock worth $500,000 after buying an additional 255 shares during the last quarter. Strs Ohio increased its position in shares of Carvana by 387.6% in the 2nd quarter. Strs Ohio now owns 19,878 shares of the company's stock valued at $6,698,000 after acquiring an additional 15,801 shares during the period. Amalgamated Bank raised its stake in Carvana by 52.4% in the 2nd quarter. Amalgamated Bank now owns 9,660 shares of the company's stock worth $3,255,000 after acquiring an additional 3,323 shares during the last quarter. Atria Investments Inc acquired a new stake in Carvana during the 2nd quarter worth about $744,000. Finally, Assetmark Inc. lifted its position in Carvana by 458.2% during the second quarter. Assetmark Inc. now owns 441 shares of the company's stock valued at $149,000 after purchasing an additional 362 shares during the period. 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. Oppenheimer raised Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 target price on the stock in a research report on Friday, July 25th. Robert W. Baird boosted their price objective on shares of Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. DA Davidson raised their target price on shares of Carvana from $260.00 to $380.00 and gave the stock a "neutral" rating in a report on Thursday. JPMorgan Chase & Co. upped their price target on shares of Carvana from $350.00 to $415.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Bank of America raised their price objective on shares of Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Carvana currently has a consensus rating of "Moderate Buy" and an average target price 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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