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 on Friday, July 26th. The shares were sold at an average price of $130.52, for a total transaction of $9,789,000.00. Following the completion of the transaction, the insider now owns 1,790,814 shares of the company’s stock, valued at $233,737,043.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more 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 Price Performance

Carvana stock traded down $0.78 during trading on Tuesday, reaching $126.83. 4,233,183 shares of the company were exchanged, compared to its average volume of 5,458,732. The stock’s 50 day simple moving average is $118.68 and its two-hundred day simple moving average is $90.24. The company has a market capitalization of $25.69 billion, a P/E ratio of 55.63 and a beta of 3.37. Carvana Co. has a 52-week low of $25.09 and a 52-week high of $147.25.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.72 billion. As a group, equities analysts forecast that Carvana Co. will post -0.71 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. BTIG Research assumed coverage on Carvana in a report on Friday, July 12th. They issued a “buy” rating and a $155.00 price target for the company. Needham & Company LLC upgraded Carvana from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Wednesday, July 10th. Evercore ISI boosted their price target on shares of Carvana from $135.00 to $140.00 and gave the stock an “in-line” rating in a report on Tuesday, July 16th. JMP Securities restated a “market outperform” rating and set a $150.00 price objective on shares of Carvana in a research report on Wednesday, July 10th. Finally, TD Cowen lifted their target price on shares of Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $105.14.

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently made changes to their positions in the company. Forum Financial Management LP purchased a new position in Carvana in the second quarter worth approximately $257,000. Bricktown Capital LLC purchased a new position in shares of Carvana during the 2nd quarter worth $2,309,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Carvana by 9.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,897 shares of the company’s stock worth $2,175,000 after purchasing an additional 1,528 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in Carvana in the 2nd quarter valued at about $32,000. Finally, Banco Santander S.A. acquired a new position in Carvana in the second quarter valued at about $213,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.