Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells $6,482,400.00 in Stock

Carvana Co. (NYSE:CVNAGet Free Report) major shareholder Ernest C. Garcia II sold 60,000 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $108.04, for a total value of $6,482,400.00. Following the completion of the transaction, the insider now directly owns 1,477,500 shares in the company, valued at approximately $159,629,100. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Carvana Price Performance

CVNA opened at $103.03 on Friday. The business’s 50-day moving average price is $98.65 and its two-hundred day moving average price is $71.96. Carvana Co. has a 1 year low of $20.60 and a 1 year high of $129.00. The company has a market capitalization of $20.87 billion, a price-to-earnings ratio of 45.19 and a beta of 3.29.

Carvana (NYSE:CVNAGet Free Report) last released its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $2.72 billion. Sell-side analysts anticipate that Carvana Co. will post -0.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CVNA. TD Cowen increased their price target on Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Wedbush lifted their target price on Carvana from $80.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Evercore ISI reduced their target price on Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Royal Bank of Canada lifted their target price on Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a report on Thursday, May 2nd. Finally, Jefferies Financial Group upgraded Carvana from an “underperform” rating to a “hold” rating and lifted their target price for the stock from $30.00 to $85.00 in a report on Tuesday, March 12th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $84.36.

Read Our Latest Research Report on CVNA

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. acquired a new stake in shares of Carvana in the fourth quarter valued at about $29,000. Plato Investment Management Ltd acquired a new stake in shares of Carvana in the first quarter valued at about $55,000. Parallel Advisors LLC increased its position in shares of Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after acquiring an additional 194 shares during the last quarter. Hanseatic Management Services Inc. acquired a new stake in shares of Carvana in the third quarter valued at about $34,000. Finally, Tidemark LLC acquired a new stake in shares of Carvana in the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Carvana (NYSE:CVNA)

Receive News & Ratings for Carvana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carvana and related companies with MarketBeat.com's FREE daily email newsletter.