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 Thursday, September 19th. The shares were sold at an average price of $168.46, for a total value of $16,846,000.00. Following the transaction, the insider now owns 39,858,131 shares of the company’s stock, valued at $6,714,500,748.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large 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 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 value of $15,500,000.00.
• On Monday, September 9th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The shares were 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 value of $10,629,000.00.
• On Friday, August 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $149.16, for a total value 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 value of $1,441,742.70.
• On Friday, July 12th, Ernest C. Garcia II sold 37,500 shares of Carvana stock. The stock was sold at an average price of $136.63, for a total value of $5,123,625.00.

Carvana Trading Up 0.8 %

Shares of NYSE:CVNA traded up $1.40 during mid-day trading on Monday, reaching $175.25. 4,045,735 shares of the company were exchanged, compared to its average volume of 5,110,847. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. The firm has a market cap of $35.50 billion, a price-to-earnings ratio of 76.25 and a beta of 3.43. The firm’s 50-day simple moving average is $143.11 and its 200 day simple moving average is $115.60. Carvana Co. has a 1 year low of $25.09 and a 1 year high of $176.33.

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. Equities research analysts forecast that Carvana Co. will post 0.18 EPS for the current year.

Institutional Investors Weigh In On Carvana

Large investors have recently added to or reduced their stakes in the business. Ridgewood Investments LLC purchased a new stake in Carvana during the 2nd quarter worth approximately $32,000. Parallel Advisors LLC increased its stake in Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after buying an additional 194 shares during the period. Summit Securities Group LLC increased its stake in Carvana by 110.0% during 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 increased its stake in Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after buying an additional 275 shares during the period. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in Carvana during the 2nd quarter worth approximately $51,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on CVNA. Royal Bank of Canada upgraded Carvana to a “sector perform” rating and boosted their price objective for the stock from $166.00 to $170.00 in a research note on Monday, August 19th. Bank of America reissued a “buy” rating and issued a $185.00 target price on shares of Carvana in a research note on Tuesday, September 17th. BTIG Research raised their target price on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird assumed coverage on shares of Carvana in a research note on Thursday, August 1st. They issued a “neutral” rating and a $160.00 target price on the stock. Finally, Evercore ISI raised their target price on shares of Carvana from $142.00 to $157.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Carvana currently has an average rating of “Hold” and an average target price of $153.88.

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.