Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells 75,000 Shares of Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $130.75, for a total value of $9,806,250.00. Following the completion of the sale, the insider now directly owns 2,090,814 shares in the company, valued at $273,373,930.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, July 12th, Ernest C. Garcia II sold 37,500 shares of Carvana stock. The stock was sold at an average price of $136.63, for a total value of $5,123,625.00.

Carvana Stock Performance

Shares of NYSE CVNA opened at $132.72 on Friday. The firm has a market capitalization of $26.89 billion, a price-to-earnings ratio of 58.21 and a beta of 3.37. The stock has a 50 day moving average price of $118.47 and a 200 day moving average price of $89.07. Carvana Co. has a 52-week low of $25.09 and a 52-week high of $147.25.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Analysts forecast that Carvana Co. will post -0.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. BTIG Research assumed coverage on Carvana in a research report on Friday, July 12th. They issued a “buy” rating and a $155.00 price target for the company. TD Cowen lifted their price target on Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Wedbush reiterated a “neutral” rating and issued a $120.00 price target on shares of Carvana in a research report on Wednesday, June 26th. Royal Bank of Canada lifted their price target on Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Carvana from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Carvana presently has a consensus rating of “Hold” and a consensus target price of $105.14.

Institutional Trading of Carvana

Large investors have recently modified their holdings of the company. Blue Trust Inc. bought a new position in Carvana in the fourth quarter worth approximately $29,000. Parallel Advisors LLC raised its stake in Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after buying an additional 194 shares in the last quarter. Summit Securities Group LLC raised its stake in Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after buying an additional 3,300 shares in the last quarter. Fifth Third Bancorp raised its stake in Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after buying an additional 275 shares in the last quarter. Finally, Tidemark LLC bought a new position in Carvana in the fourth quarter worth approximately $50,000. Hedge funds and other institutional investors 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.