Insider Selling: Carvana Co. (NYSE:CVNA) CEO Sells 10,000 Shares of Stock

Carvana Co. (NYSE:CVNAGet Free Report) CEO Ernest C. Garcia III sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $214.70, for a total value of $2,147,000.00. Following the transaction, the chief executive officer now directly owns 736,440 shares of the company’s stock, valued at approximately $158,113,668. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Carvana Stock Down 2.5%

CVNA stock opened at $315.00 on Thursday. The business’s 50-day moving average is $289.41 and its two-hundred day moving average is $244.02. The company has a market cap of $67.45 billion, a price-to-earnings ratio of 110.53, a P/E/G ratio of 1.26 and a beta of 3.65. Carvana Co. has a fifty-two week low of $118.50 and a fifty-two week high of $351.43. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81.

Carvana (NYSE:CVNAGet Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.76. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $3.94 billion. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The company’s revenue was up 38.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 EPS. As a group, analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

CVNA has been the topic of a number of recent research reports. Piper Sandler set a $340.00 target price on Carvana and gave the stock an “overweight” rating in a research note on Thursday, May 22nd. Wall Street Zen cut shares of Carvana from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Citigroup raised their price objective on shares of Carvana from $280.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Stephens reiterated an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. Finally, Evercore ISI increased their price target on shares of Carvana from $295.00 to $305.00 and gave the company an “in-line” rating in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $284.18.

Get Our Latest Stock Report on Carvana

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CVNA. Price T Rowe Associates Inc. MD boosted its position in shares of Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after purchasing an additional 1,823,218 shares during the period. Vanguard Group Inc. raised its position in shares of Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock valued at $2,620,785,000 after purchasing an additional 1,109,476 shares during the period. Norges Bank purchased a new position in shares of Carvana during the 4th quarter valued at $179,364,000. Castle Hook Partners LP purchased a new stake in Carvana in the 4th quarter worth $116,020,000. Finally, BNP Paribas Financial Markets increased its stake in Carvana by 89.8% in the 4th quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company’s stock worth $207,086,000 after buying an additional 481,912 shares in the last quarter. Institutional investors 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.

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

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