Insider Selling: Carvana (NYSE:CVNA) CEO Sells 6,198 Shares of Stock

Key Points

• Carvana CEO Ernest Garcia III sold 6,198 shares at an average price of $386.66, which totaled approximately $2.40 million, resulting in a 1.61% decrease in his shareholding.
• As of the latest report, Carvana's stock has a market capitalization of $84.89 billion and analysts maintain a consensus target price of $404.94, with a current average rating of "Moderate Buy."
• Institutional investors hold 56.71% of Carvana's shares, indicating strong investor interest and confidence in the company's growth potential.

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest Garcia III sold 6,198 shares of the business's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $386.66, for a total transaction of $2,396,518.68. Following the transaction, the chief executive officer owned 378,341 shares in the company, valued at approximately $146,289,331.06. The trade was a 1.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Carvana Stock Performance

Shares of NYSE:CVNA traded down $0.92 on Thursday, hitting $394.49. 1,594,982 shares of the company were exchanged, compared to its average volume of 2,716,359. The company's 50 day moving average price is $363.74 and its two-hundred day moving average price is $307.57. Carvana Co. has a one year low of $148.25 and a one year high of $413.33. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The firm has a market capitalization of $84.89 billion, a price-to-earnings ratio of 98.87, a PEG ratio of 1.30 and a beta of 3.55.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results 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. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the business earned ($0.05) EPS. The firm's revenue was up 41.9% on a year-over-year basis. Research analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CVNA shares. Evercore ISI raised their price target on Carvana from $365.00 to $370.00 and gave the company an "in-line" rating in a report on Tuesday, August 12th. Jefferies Financial Group set a $475.00 price target on Carvana in a report on Wednesday. William Blair reiterated an "outperform" rating on shares of Carvana in a report on Wednesday, July 23rd. Royal Bank Of Canada raised their price target on Carvana from $400.00 to $460.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Wells Fargo & Company increased their target price on Carvana from $390.00 to $425.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Carvana presently has an average rating of "Moderate Buy" and a consensus target price of $404.94.

Institutional Investors Weigh In On Carvana

A number of hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its position in shares of Carvana by 13.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock worth $3,125,749,000 after purchasing an additional 1,823,218 shares during the period. Vanguard Group Inc. raised its position in shares of Carvana by 1.8% during the second quarter. Vanguard Group Inc. now owns 12,764,230 shares of the company's stock worth $4,301,035,000 after purchasing an additional 229,387 shares during the period. State Street Corp raised its position in shares of Carvana by 15.0% during the second quarter. State Street Corp now owns 2,765,046 shares of the company's stock worth $931,710,000 after purchasing an additional 361,624 shares during the period. Geode Capital Management LLC raised its position in shares of Carvana by 11.0% during the second quarter. Geode Capital Management LLC now owns 2,232,179 shares of the company's stock worth $750,301,000 after purchasing an additional 221,161 shares during the period. Finally, Sands Capital Management LLC raised its position in shares of Carvana by 1,374.3% during the second quarter. Sands Capital Management LLC now owns 901,227 shares of the company's stock worth $303,677,000 after purchasing an additional 840,096 shares during the period. Institutional investors and hedge funds own 56.71% of the company's stock.

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.

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.