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 business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $130.75, for a total transaction of $9,806,250.00. Following the sale, the insider now directly owns 2,090,814 shares in the company, valued at $273,373,930.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 transaction of $5,123,625.00.

Carvana Trading Down 4.4 %

NYSE CVNA traded down $5.71 on Wednesday, hitting $123.41. 2,588,914 shares of the company were exchanged, compared to its average volume of 5,496,816. The company has a market cap of $25.00 billion, a PE ratio of 54.13 and a beta of 3.37. Carvana Co. has a 12 month low of $25.09 and a 12 month high of $147.25. The stock has a fifty day moving average of $118.00 and a 200-day moving average of $87.99.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.35. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.72 billion. On average, analysts expect that Carvana Co. will post -0.75 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CVNA shares. Wells Fargo & Company boosted their target price on shares of Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Evercore ISI upped their price objective on shares of Carvana from $135.00 to $140.00 and gave the company an “in-line” rating in a research note on Tuesday, July 16th. BTIG Research assumed coverage on shares of Carvana in a research note on Friday, July 12th. They issued a “buy” rating and a $155.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on shares of Carvana from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada upped their price objective on shares of Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $100.93.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CVNA. Price T Rowe Associates Inc. MD raised its holdings in Carvana by 39.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after buying an additional 2,112,463 shares during the last quarter. Vanguard Group Inc. raised its holdings in Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after buying an additional 655,603 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Carvana during the second quarter worth $39,997,000. First Trust Advisors LP raised its holdings in shares of Carvana by 17.1% in the fourth quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock valued at $78,560,000 after purchasing an additional 216,893 shares during the last quarter. Finally, Steadview Capital Management LLC raised its holdings in shares of Carvana by 15.6% in the fourth quarter. Steadview Capital Management LLC now owns 876,905 shares of the company’s stock valued at $46,423,000 after purchasing an additional 118,500 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.