Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells 50,000 Shares of Stock

Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 50,000 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $325.81, for a total value of $16,290,500.00. Following the transaction, the insider now directly owns 36,837,346 shares of the company's stock, valued at approximately $12,001,975,700.26. This represents a 0.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Ernest C. Garcia II also recently made the following trade(s):

• On Wednesday, June 25th, Ernest C. Garcia II sold 4,971 shares of Carvana stock. The shares were sold at an average price of $325.15, for a total value of $1,616,320.65.
• On Wednesday, June 11th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $337.46, for a total value of $16,873,000.00.
• On Monday, June 9th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $330.27, for a total value of $16,513,500.00.
• On Friday, June 6th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $346.99, for a total transaction of $34,699,000.00.
• On Wednesday, June 4th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $339.58, for a total transaction of $16,979,000.00.
• On Monday, June 2nd, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $325.94, for a total transaction of $16,297,000.00.
• On Friday, May 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $325.16, for a total transaction of $16,258,000.00.

Carvana Stock Down 2.9%

CVNA stock traded down $9.03 during midday trading on Thursday, reaching $306.73. 3,580,770 shares of the company's stock traded hands, compared to its average volume of 3,918,408. 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 $289.41 and its 200-day moving average price is $244.02. Carvana Co. has a 52 week low of $118.50 and a 52 week high of $351.43. The company has a market cap of $65.68 billion, a price-to-earnings ratio of 110.79, a P/E/G ratio of 1.23 and a beta of 3.65.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The business's revenue was up 38.3% on a year-over-year basis. During the same period last year, the company earned $0.23 earnings per share. As a group, sell-side analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on CVNA shares. Royal Bank Of Canada boosted their target price on shares of Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. JMP Securities lowered their price objective on Carvana from $340.00 to $275.00 and set a "market outperform" rating for the company in a research report on Wednesday, April 9th. Evercore ISI upped their target price on Carvana from $295.00 to $305.00 and gave the company an "in-line" rating in a research report on Tuesday. Needham & Company LLC reaffirmed a "buy" rating and set a $340.00 target price on shares of Carvana in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. dropped their price target on Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $284.18.

Institutional Trading of Carvana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVNA. Brooklyn Investment Group grew its holdings in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after buying an additional 125 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after acquiring an additional 78 shares during the last quarter. Rialto Wealth Management LLC purchased a new position in Carvana during the 4th quarter worth $31,000. N.E.W. Advisory Services LLC bought a new stake in shares of Carvana in the 1st quarter worth $33,000. Finally, Venturi Wealth Management LLC raised its holdings in shares of Carvana by 79.2% in the fourth quarter. Venturi Wealth Management LLC now owns 224 shares of the company's stock valued at $46,000 after purchasing an additional 99 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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