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 the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $130.78, for a total transaction of $9,808,500.00. Following the completion of the sale, the insider now owns 112,500 shares of the company’s stock, valued at approximately $14,712,750. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Carvana Stock Performance

NYSE:CVNA traded up $6.25 during mid-day trading on Friday, hitting $136.18. The stock had a trading volume of 6,884,444 shares, compared to its average volume of 5,587,524. Carvana Co. has a twelve month low of $25.09 and a twelve month high of $140.91. The stock has a market cap of $27.58 billion, a price-to-earnings ratio of 60.24 and a beta of 3.37. The company’s 50 day simple moving average is $115.54 and its 200 day simple moving average is $82.87.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.35. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $2.72 billion. As a group, equities analysts forecast that Carvana Co. will post -0.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CVNA. GAMMA Investing LLC raised its position in shares of Carvana by 127.9% in the second quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock valued at $59,000 after buying an additional 257 shares in the last quarter. Hilltop National Bank acquired a new stake in shares of Carvana in the second quarter valued at approximately $68,000. Blue Trust Inc. acquired a new stake in shares of Carvana in the fourth quarter valued at approximately $29,000. Plato Investment Management Ltd acquired a new stake in shares of Carvana in the first quarter valued at approximately $55,000. Finally, Parallel Advisors LLC raised its position in shares of Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after buying an additional 194 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CVNA shares. Wells Fargo & Company upped their price objective on shares of Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Thursday, May 2nd. Needham & Company LLC raised shares of Carvana from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Wednesday. TD Cowen upped their target price on shares of Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Finally, Wedbush restated a “neutral” rating and set a $120.00 price objective on shares of Carvana in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $97.13.

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.