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 Carvana stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $190.70, for a total value of $19,070,000.00. Following the transaction, the insider now owns 38,458,131 shares of the company’s stock, valued at approximately $7,333,965,581.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a 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 sales and purchases with the SEC.

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

• On Monday, October 7th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $180.49, for a total value of $18,049,000.00.
• On Friday, October 4th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $179.06, for a total value of $17,906,000.00.
• On Wednesday, October 2nd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $174.64, for a total value of $17,464,000.00.
• On Monday, September 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $171.68, for a total value of $17,168,000.00.
• On Friday, September 27th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $169.88, for a total value of $16,988,000.00.
• On Wednesday, September 25th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $170.51, for a total value of $17,051,000.00.
• On Monday, September 23rd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was 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 stock was sold at an average price of $155.00, for a total value 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.

Carvana Stock Up 0.4 %

Carvana stock opened at $192.25 on Friday. Carvana Co. has a twelve month low of $25.09 and a twelve month high of $194.75. The stock’s fifty day simple moving average is $157.06 and its 200-day simple moving average is $125.52. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. The firm has a market capitalization of $38.94 billion, a P/E ratio of 84.32 and a beta of 3.44.

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 company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.23 billion. As a group, equities analysts expect that Carvana Co. will post 0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on CVNA shares. Needham & Company LLC boosted their price objective on Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. JMP Securities reissued a “market outperform” rating and set a $200.00 price objective on shares of Carvana in a research note on Monday, September 9th. Stephens started coverage on Carvana in a research note on Thursday, September 12th. They set an “overweight” rating and a $190.00 price objective on the stock. DA Davidson boosted their price objective on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Bank of America upped their price target on Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $171.76.

Institutional Trading of Carvana

Large investors have recently modified their holdings of the stock. Goodnow Investment Group LLC increased its holdings in Carvana by 1.6% in the fourth quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock valued at $77,532,000 after buying an additional 23,140 shares during the last quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV increased its holdings in Carvana by 17.6% in the fourth quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock valued at $26,470,000 after buying an additional 75,000 shares during the last quarter. Wellington Management Group LLP purchased a new position in Carvana in the fourth quarter valued at $4,703,000. Vanguard Group Inc. increased its holdings in Carvana by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after buying an additional 655,603 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Carvana by 63.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,481 shares of the company’s stock valued at $131,000 after buying an additional 965 shares during the last quarter. Hedge funds and other institutional investors 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.