Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells $9,806,250.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were 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 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 through the SEC website. Major shareholders that own 10% or more 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 Friday, July 12th, Ernest C. Garcia II sold 37,500 shares of Carvana stock. The shares were sold at an average price of $136.63, for a total value of $5,123,625.00.

Carvana Price Performance

Shares of CVNA stock opened at $132.72 on Friday. The stock has a market capitalization of $26.89 billion, a PE ratio of 58.21 and a beta of 3.37. Carvana Co. has a 1-year low of $25.09 and a 1-year high of $147.25. The business has a 50-day moving average of $118.47 and a 200 day moving average of $89.07.

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

Analysts Set New Price Targets

CVNA has been the topic of a number of analyst reports. TD Cowen boosted their price objective on Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Robert W. Baird boosted their price objective on Carvana from $65.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Wells Fargo & Company boosted their price objective on Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Wedbush reiterated a “neutral” rating and set a $120.00 price objective on shares of Carvana in a research note on Wednesday, June 26th. Finally, Evercore ISI boosted their price objective on Carvana from $135.00 to $140.00 and gave the company an “in-line” rating in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Carvana currently has a consensus rating of “Hold” and an average target price of $105.14.

Institutional Investors Weigh In On Carvana

Several institutional investors have recently bought and sold shares of the stock. CWM LLC boosted its holdings in Carvana by 19.5% during the 2nd quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after acquiring an additional 144 shares during the period. Great Valley Advisor Group Inc. raised its position in Carvana by 1.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock valued at $1,333,000 after purchasing an additional 182 shares during the last quarter. Parallel Advisors LLC raised its position in Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after purchasing an additional 194 shares during the last quarter. GAMMA Investing LLC raised its position in Carvana by 127.9% during the 2nd quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock valued at $59,000 after purchasing an additional 257 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

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.