Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells $10,338,000.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $137.84, for a total value of $10,338,000.00. Following the completion of the sale, the insider now directly owns 1,240,814 shares of the company’s stock, valued at $171,033,801.76. The sale was disclosed in a filing with the SEC, which is available at this link. 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 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 Up 1.9 %

Shares of CVNA opened at $135.96 on Friday. Carvana Co. has a 52 week low of $25.09 and a 52 week high of $154.00. The firm’s 50-day simple moving average is $123.58 and its 200 day simple moving average is $95.31. The firm has a market cap of $27.54 billion, a P/E ratio of 59.63 and a beta of 3.37. The company has a debt-to-equity ratio of 47.20, a quick ratio of 1.62 and a current ratio of 3.11.

Institutional Investors Weigh In On Carvana

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVNA. Vanguard Group Inc. boosted its holdings in Carvana by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after purchasing an additional 655,603 shares during the period. Charles Schwab Investment Management Inc. raised its position in Carvana by 6.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 831,879 shares of the company’s stock valued at $44,040,000 after purchasing an additional 53,318 shares during the period. Rafferty Asset Management LLC boosted its holdings in shares of Carvana by 38.6% in the 4th quarter. Rafferty Asset Management LLC now owns 43,792 shares of the company’s stock worth $2,318,000 after purchasing an additional 12,193 shares during the period. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV boosted its holdings in shares of Carvana by 17.6% in the 4th quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock worth $26,470,000 after purchasing an additional 75,000 shares during the period. Finally, Tidal Investments LLC bought a new position in shares of Carvana during the 1st quarter valued at approximately $1,783,000. 56.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVNA. Piper Sandler increased their price objective on Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. JMP Securities increased their target price on shares of Carvana from $150.00 to $200.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. Robert W. Baird assumed coverage on shares of Carvana in a research note on Thursday, August 1st. They set a “neutral” rating and a $160.00 price objective on the stock. Needham & Company LLC increased their price objective on shares of Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Wedbush reissued a “neutral” rating and issued a $120.00 price target on shares of Carvana in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $143.73.

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.