Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells $19,255,000.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $192.55, for a total transaction of $19,255,000.00. Following the completion of the transaction, the insider now directly owns 38,258,131 shares in the company, valued at $7,366,603,124.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Ernest C. Garcia II also recently made the following trade(s):

• On Wednesday, October 16th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $193.06, for a total value of $19,306,000.00.
• On Monday, October 14th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $190.47, for a total value of $19,047,000.00.
• On Wednesday, October 9th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $190.70, for a total value of $19,070,000.00.
• On Monday, October 7th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $180.49, for a total transaction of $18,049,000.00.
• On Friday, October 4th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $179.06, for a total transaction of $17,906,000.00.
• On Wednesday, October 2nd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $174.64, for a total transaction of $17,464,000.00.
• On Monday, September 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $171.68, for a total value of $17,168,000.00.
• On Friday, September 27th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $169.88, for a total value of $16,988,000.00.
• On Wednesday, September 25th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $170.51, for a total value of $17,051,000.00.
• On Monday, September 23rd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $172.66, for a total value of $17,266,000.00.

Carvana Trading Down 0.6 %

Shares of CVNA stock opened at $192.15 on Friday. Carvana Co. has a fifty-two week low of $25.09 and a fifty-two week high of $196.36. The company has a 50 day moving average price of $161.67 and a 200 day moving average price of $128.12. The stock has a market capitalization of $38.92 billion, a P/E ratio of 84.28 and a beta of 3.44. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. Equities research analysts predict that Carvana Co. will post 0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Evercore ISI reissued an “in-line” rating and issued a $178.00 price objective on shares of Carvana in a report on Thursday, September 26th. Stephens assumed coverage on shares of Carvana in a research note on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price target for the company. BTIG Research lifted their price target on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Needham & Company LLC upped their price objective on Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada raised Carvana to a “sector perform” rating and raised their target price for the stock from $166.00 to $170.00 in a research note on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $171.76.

Institutional Investors Weigh In On Carvana

Large investors have recently bought and sold shares of the stock. Ridgewood Investments LLC acquired a new position in shares of Carvana during the second quarter worth about $32,000. Sugarloaf Wealth Management LLC acquired a new position in Carvana during the 3rd quarter worth approximately $32,000. Summit Securities Group LLC grew its holdings 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 acquiring an additional 3,300 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Carvana by 450.8% in the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Carvana in the 2nd quarter valued at $51,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.