Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells 60,000 Shares of Stock

Carvana Co. (NYSE:CVNAGet Free Report) major shareholder Ernest C. Garcia II sold 60,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $115.77, for a total transaction of $6,946,200.00. Following the completion of the sale, the insider now directly owns 937,500 shares in the company, valued at $108,534,375. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Carvana Stock Up 5.0 %

Shares of NYSE:CVNA opened at $132.88 on Friday. Carvana Co. has a 12-month low of $23.43 and a 12-month high of $134.68. The company’s 50 day moving average price is $106.59 and its two-hundred day moving average price is $77.57. The firm has a market cap of $26.92 billion, a PE ratio of 58.28 and a beta of 3.29.

Carvana (NYSE:CVNAGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.35. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.72 billion. On average, research analysts expect that Carvana Co. will post -0.75 EPS for the current year.

Institutional Trading of Carvana

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after purchasing an additional 655,603 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Carvana by 6.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 831,879 shares of the company’s stock worth $44,040,000 after acquiring an additional 53,318 shares during the period. Blue Trust Inc. acquired a new stake in shares of Carvana during the 4th quarter worth approximately $29,000. Rafferty Asset Management LLC increased its stake in Carvana by 38.6% in the fourth quarter. Rafferty Asset Management LLC now owns 43,792 shares of the company’s stock valued at $2,318,000 after acquiring an additional 12,193 shares during the last quarter. Finally, Investmentaktiengesellschaft Fuer Langfristige Investoren TGV raised its position in Carvana by 17.6% during the fourth quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock valued at $26,470,000 after purchasing an additional 75,000 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. TD Cowen upped their price objective on Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Evercore ISI increased their price target on Carvana from $111.00 to $118.00 and gave the company an “in-line” rating in a research note on Thursday, June 20th. Jefferies Financial Group raised shares of Carvana from an “underperform” rating to a “hold” rating and lifted their price objective for the stock from $30.00 to $85.00 in a research report on Tuesday, March 12th. JPMorgan Chase & Co. increased their price objective on shares of Carvana from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Finally, JMP Securities lifted their target price on shares of Carvana from $135.00 to $150.00 and gave the stock a “market outperform” rating in a report on Friday, June 7th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $87.29.

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Carvana Company Profile

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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.

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

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