Insider Selling: Carvana (NYSE:CVNA) CEO Sells 10,000 Shares of Stock

Key Points

• Carvana CEO Ernest Garcia III sold 10,000 shares of stock at an average price of $393.76, totaling approximately $3.94 million, resulting in a 2.62% decrease in his holdings.
• Carvana's stock decreased by 1.5%, trading at $369.90, while the company has experienced a 41.9% revenue increase year-over-year in its latest quarterly report.
• Institutional investors currently hold 56.71% of Carvana's shares, with several firms significantly increasing their stakes during the first quarter.

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest Garcia III sold 10,000 shares of the firm's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $393.76, for a total transaction of $3,937,600.00. Following the completion of the transaction, the chief executive officer directly owned 371,440 shares of the company's stock, valued at approximately $146,258,214.40. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Carvana Stock Down 1.5%

Shares of NYSE CVNA traded down $5.82 during mid-day trading on Monday, hitting $369.90. The company had a trading volume of 1,797,943 shares, compared to its average volume of 3,873,377. The company has a market capitalization of $79.60 billion, a PE ratio of 92.71, a price-to-earnings-growth ratio of 1.23 and a beta of 3.55. The firm has a 50-day simple moving average of $364.64 and a two-hundred day simple moving average of $310.81. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. Carvana Co. has a one year low of $148.25 and a one year high of $413.33.

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

Institutional Investors Weigh In On Carvana

Several institutional investors and hedge funds have recently bought and sold shares of CVNA. J.Safra Asset Management Corp lifted its holdings in shares of Carvana by 140.8% during the 1st quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock worth $709,000 after acquiring an additional 1,982 shares during the period. Farther Finance Advisors LLC lifted its stake in Carvana by 333.1% during the first quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock worth $740,000 after purchasing an additional 2,678 shares during the last quarter. Berkshire Capital Holdings Inc. lifted its stake in Carvana by 632,200.0% during the first quarter. Berkshire Capital Holdings Inc. now owns 63,230 shares of the company's stock worth $13,220,000 after purchasing an additional 63,220 shares during the last quarter. Praxis Investment Management Inc. lifted its position in shares of Carvana by 56.0% during the 1st quarter. Praxis Investment Management Inc. now owns 4,400 shares of the company's stock worth $920,000 after buying an additional 1,580 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in shares of Carvana by 1,791.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,591 shares of the company's stock worth $542,000 after buying an additional 2,454 shares during the last quarter. Institutional investors own 56.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Stephens reissued an "overweight" rating and issued a $440.00 price objective on shares of Carvana in a research report on Tuesday, September 23rd. Citigroup reiterated an "outperform" rating on shares of Carvana in a report on Thursday, July 31st. Wells Fargo & Company lifted their price target on Carvana from $390.00 to $425.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Gordon Haskett started coverage on Carvana in a report on Monday, July 14th. They set a "hold" rating and a $329.00 price target for the company. Finally, Royal Bank Of Canada lifted their target price on Carvana from $400.00 to $460.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $404.94.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.