Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells 60,000 Shares of Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 60,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $102.91, for a total transaction of $6,174,600.00. Following the completion of the sale, the insider now owns 1,237,500 shares in the company, valued at approximately $127,351,125. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Carvana Trading Up 1.7 %

NYSE CVNA opened at $110.79 on Wednesday. The stock has a market cap of $22.44 billion, a PE ratio of 48.59 and a beta of 3.29. Carvana Co. has a 12 month low of $20.60 and a 12 month high of $129.00. The company’s 50-day moving average price is $99.56 and its 200-day moving average price is $73.58.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.35. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $2.72 billion. As a group, sell-side analysts forecast that Carvana Co. will post -0.75 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. TD Cowen upped 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. JPMorgan Chase & Co. upped their price objective on Carvana from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Needham & Company LLC reiterated a “hold” rating on shares of Carvana in a report on Thursday, May 2nd. Robert W. Baird increased their price target on Carvana from $65.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Finally, Raymond James raised shares of Carvana from an “underperform” rating to a “market perform” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Carvana currently has an average rating of “Hold” and a consensus price target of $84.36.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Blue Trust Inc. purchased a new position in Carvana during the 4th quarter valued at about $29,000. Plato Investment Management Ltd purchased a new stake in shares of Carvana in the 1st quarter worth approximately $55,000. Parallel Advisors LLC boosted its stake in shares of Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after purchasing an additional 194 shares in the last quarter. Hanseatic Management Services Inc. purchased a new position in Carvana during the third quarter valued at approximately $34,000. Finally, Tidemark LLC bought a new position in Carvana in the fourth quarter worth approximately $50,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

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.