Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells $18,049,000.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $180.49, for a total value of $18,049,000.00. Following the transaction, the insider now directly owns 38,658,131 shares in the company, valued at approximately $6,977,406,064.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 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, October 9th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $190.70, for a total transaction of $19,070,000.00.
• On Friday, October 4th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $179.06, for a total transaction of $17,906,000.00.
• On Wednesday, October 2nd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $174.64, for a total transaction of $17,464,000.00.
• On Monday, September 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $171.68, for a total transaction of $17,168,000.00.
• On Friday, September 27th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $169.88, for a total value of $16,988,000.00.
• On Wednesday, September 25th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $170.51, for a total value of $17,051,000.00.
• On Monday, September 23rd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $172.66, for a total value of $17,266,000.00.
• On Thursday, September 19th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $168.46, for a total value of $16,846,000.00.
• On Tuesday, September 17th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00.
• On Monday, September 9th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The stock was sold at an average price of $135.73, for a total transaction of $10,179,750.00.

Carvana Trading Up 0.4 %

Shares of Carvana stock opened at $192.28 on Friday. The company’s fifty day moving average is $157.06 and its two-hundred day moving average is $125.28. Carvana Co. has a 1 year low of $25.09 and a 1 year high of $194.75. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The company has a market capitalization of $39.79 billion, a P/E ratio of 64.74 and a beta of 3.44.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. Analysts forecast that Carvana Co. will post 0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CVNA shares. BTIG Research raised their price objective on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Robert W. Baird started coverage on Carvana in a report on Thursday, August 1st. They set a “neutral” rating and a $160.00 price target for the company. JPMorgan Chase & Co. upped their price objective on Carvana from $185.00 to $230.00 and gave the stock an “overweight” rating in a research report on Wednesday. JMP Securities reissued a “market outperform” rating and set a $200.00 target price on shares of Carvana in a research report on Monday, September 9th. Finally, Wedbush upped their price target on Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Carvana currently has an average rating of “Hold” and an average price target of $164.28.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Ridgewood Investments LLC acquired a new position in shares of Carvana during the second quarter worth about $32,000. Sugarloaf Wealth Management LLC purchased a new stake in Carvana in the 3rd quarter valued at approximately $32,000. Summit Securities Group LLC boosted its holdings in Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares in the last quarter. Fifth Third Bancorp increased its position in Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares during the period. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of Carvana during the 2nd quarter worth approximately $51,000. 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.