Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells 50,000 Shares of Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 50,000 shares of the business’s stock in a transaction on Friday, April 16th. The shares were sold at an average price of $274.73, for a total value of $13,736,500.00. Following the sale, the insider now owns 6,003 shares in the company, valued at $1,649,204.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

NYSE:CVNA opened at $262.63 on Wednesday. The company has a current ratio of 3.18, a quick ratio of 1.42 and a debt-to-equity ratio of 1.12. Carvana Co. has a 12 month low of $71.56 and a 12 month high of $323.39. The business’s 50-day moving average is $271.03 and its 200 day moving average is $254.58. The company has a market capitalization of $45.24 billion, a P/E ratio of -96.20 and a beta of 2.52.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Thursday, February 25th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.07. Carvana had a negative net margin of 3.06% and a negative return on equity of 43.19%. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.59 billion. On average, research analysts forecast that Carvana Co. will post -2.29 earnings per share for the current year.

A number of research analysts have recently commented on the stock. Jefferies Financial Group boosted their price target on shares of Carvana from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, March 17th. Raymond James began coverage on shares of Carvana in a report on Tuesday, April 13th. They issued a “market perform” rating for the company. JMP Securities raised their price objective on Carvana from $250.00 to $290.00 and gave the company a “market outperform” rating in a research note on Thursday, March 4th. Zacks Investment Research lowered shares of Carvana from a “hold” rating to a “sell” rating and set a $331.00 price target for the company. in a report on Wednesday, March 3rd. Finally, DA Davidson upped their price objective on shares of Carvana from $214.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, February 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $266.27.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Panagora Asset Management Inc. purchased a new position in shares of Carvana during the 4th quarter worth about $26,000. Eudaimonia Partners LLC purchased a new position in Carvana during the 3rd quarter valued at $25,000. Heritage Wealth Advisors bought a new position in Carvana in the 4th quarter valued at $48,000. Chiron Capital Management LLC bought a new stake in shares of Carvana during the third quarter worth $56,000. Finally, CNB Bank grew its holdings in shares of Carvana by 42.5% in the fourth quarter. CNB Bank now owns 285 shares of the company’s stock worth $68,000 after purchasing an additional 85 shares during the last quarter. 48.41% of the stock is currently owned by institutional investors and hedge funds.

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.

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Insider Buying and Selling by Quarter for Carvana (NYSE:CVNA)

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