Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells 50,000 Shares of Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 50,000 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $340.07, for a total transaction of $17,003,500.00. Following the sale, the insider owned 36,637,346 shares of the company’s stock, valued at approximately $12,459,262,254.22. The trade was a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 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, June 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $327.07, for a total transaction of $16,353,500.00.
• On Wednesday, June 25th, Ernest C. Garcia II sold 4,971 shares of Carvana stock. The shares were sold at an average price of $325.15, for a total transaction of $1,616,320.65.
• On Tuesday, June 24th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $325.81, for a total transaction of $16,290,500.00.
• On Wednesday, June 11th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $337.46, for a total transaction of $16,873,000.00.
• On Monday, June 9th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $330.27, for a total transaction of $16,513,500.00.
• On Friday, June 6th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $346.99, for a total transaction of $34,699,000.00.
• On Wednesday, June 4th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were 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 stock was 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 Stock Up 2.7%

Shares of NYSE:CVNA traded up $9.40 during trading on Monday, reaching $357.73. 3,158,115 shares of the stock traded hands, compared to its average volume of 3,862,691. The stock has a 50-day moving average of $308.18 and a two-hundred day moving average of $249.42. Carvana Co. has a 52-week low of $118.50 and a 52-week high of $359.76. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. The stock has a market cap of $76.60 billion, a P/E ratio of 125.52, a price-to-earnings-growth ratio of 1.36 and a beta of 3.59.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.76. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the prior year, the company posted $0.23 earnings per share. The business’s revenue for the quarter was up 38.3% on a year-over-year basis. As a group, sell-side analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CVNA shares. Morgan Stanley increased their price target on shares of 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 increased their price target on shares of Carvana from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Bank of America increased their price target on shares of Carvana from $325.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. JPMorgan Chase & Co. decreased their price target on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Finally, Citigroup reissued an “outperform” rating on shares of Carvana in a research note on Wednesday, July 2nd. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $298.29.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently made changes to their positions in CVNA. Charles Schwab Investment Management Inc. boosted its holdings in Carvana by 9.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company’s stock worth $94,148,000 after purchasing an additional 39,089 shares during the last quarter. J.Safra Asset Management Corp boosted its holdings in Carvana by 140.8% in the first quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company’s stock worth $709,000 after purchasing an additional 1,982 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Carvana in the fourth quarter worth approximately $60,866,000. Worldquant Millennium Advisors LLC purchased a new position in shares of Carvana during the 4th quarter worth $51,091,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Carvana by 333.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company’s stock worth $740,000 after acquiring an additional 2,678 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.