Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells 100,000 Shares of Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $170.51, for a total transaction of $17,051,000.00. Following the transaction, the insider now owns 39,458,131 shares of the company’s stock, valued at $6,728,005,916.81. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Ernest C. Garcia II also recently made the following trade(s):

• On Monday, September 23rd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $172.66, for a total value of $17,266,000.00.
• On Thursday, September 19th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $168.46, for a total value of $16,846,000.00.
• On Tuesday, September 17th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00.
• On Monday, September 9th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The stock was sold at an average price of $135.73, for a total value of $10,179,750.00.
• On Thursday, September 5th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The shares were sold at an average price of $141.72, for a total transaction of $10,629,000.00.
• On Friday, August 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $149.16, for a total transaction of $14,916,000.00.
• On Wednesday, August 28th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $155.69, for a total value of $15,569,000.00.
• On Monday, August 26th, Ernest C. Garcia II sold 9,186 shares of Carvana stock. The stock was sold at an average price of $156.95, for a total transaction of $1,441,742.70.
• On Friday, July 12th, Ernest C. Garcia II sold 37,500 shares of Carvana stock. The shares were sold at an average price of $136.63, for a total value of $5,123,625.00.

Carvana Trading Down 0.9 %

Shares of NYSE CVNA traded down $1.49 during trading hours on Friday, hitting $169.72. 1,668,534 shares of the company traded hands, compared to its average volume of 5,056,281. The stock has a market capitalization of $34.38 billion, a price-to-earnings ratio of 74.46 and a beta of 3.43. The company’s 50 day moving average price is $145.89 and its 200 day moving average price is $117.64. Carvana Co. has a 12 month low of $25.09 and a 12 month high of $176.33. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. On average, equities research analysts anticipate that Carvana Co. will post 0.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CVNA shares. Robert W. Baird initiated coverage on Carvana in a research report on Thursday, August 1st. They set a “neutral” rating and a $160.00 price objective for the company. BTIG Research lifted their target price on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wedbush raised shares of Carvana to a “neutral” rating and upped their price target for the company from $120.00 to $150.00 in a research report on Monday, August 19th. Evercore ISI restated an “in-line” rating and issued a $178.00 price target on shares of Carvana in a research report on Thursday. Finally, Piper Sandler lifted their target price on shares of Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $155.12.

Institutional Trading of Carvana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVNA. Ridgewood Investments LLC purchased a new stake in Carvana in the second quarter worth $32,000. Parallel Advisors LLC grew its holdings in shares of Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares during the last quarter. Summit Securities Group LLC increased its stake in Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after buying an additional 3,300 shares during the period. Fifth Third Bancorp lifted its holdings in Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after buying an additional 275 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in Carvana in the 2nd quarter valued at about $51,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.