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 dated Friday, June 6th. The shares were sold at an average price of $346.99, for a total value of $34,699,000.00. Following the sale, the insider now owns 37,092,317 shares of the company’s stock, valued at approximately $12,870,663,075.83. This represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 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 Wednesday, June 4th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $339.58, for a total transaction of $16,979,000.00.
• On Monday, June 2nd, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $325.94, for a total transaction of $16,297,000.00.
• On Friday, May 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $325.16, for a total transaction of $16,258,000.00.

Carvana Trading Down 0.3%

CVNA traded down $1.06 during trading on Monday, reaching $340.40. The company had a trading volume of 3,359,227 shares, compared to its average volume of 3,949,110. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The business has a 50 day simple moving average of $258.50 and a 200-day simple moving average of $238.41. The stock has a market cap of $72.89 billion, a P/E ratio of 216.82 and a beta of 3.65. Carvana Co. has a 52 week low of $100.05 and a 52 week high of $351.43.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.76. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the previous year, the company earned $0.23 EPS. The firm’s revenue for the quarter was up 38.3% compared to the same quarter last year. On average, equities analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Carvana

Several institutional investors have recently bought and sold shares of the company. Strs Ohio acquired a new position in shares of Carvana during the first quarter worth $852,000. Geneos Wealth Management Inc. grew its stake in Carvana by 251.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after buying an additional 181 shares during the last quarter. IFM Investors Pty Ltd increased its position in Carvana by 0.6% during the 1st quarter. IFM Investors Pty Ltd now owns 21,061 shares of the company’s stock valued at $4,403,000 after buying an additional 135 shares in the last quarter. Bayforest Capital Ltd raised its stake in Carvana by 41.5% in the first quarter. Bayforest Capital Ltd now owns 1,773 shares of the company’s stock valued at $371,000 after buying an additional 520 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Carvana by 27.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 529,596 shares of the company’s stock worth $110,728,000 after acquiring an additional 114,526 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on CVNA. Morgan Stanley upped their price objective on Carvana from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, May 15th. Royal Bank of Canada raised their price objective on Carvana from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. JMP Securities cut their price objective on Carvana from $340.00 to $275.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 9th. Evercore ISI reduced their target price on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, March 11th. Finally, Piper Sandler set a $340.00 price target on shares of Carvana and gave the company an “overweight” rating in a report on Thursday, May 22nd. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $275.65.

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.