Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells $16,290,500.00 in Stock

Carvana Co. (NYSE:CVNAGet Free Report) major shareholder Ernest C. Garcia II sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $325.81, for a total transaction of $16,290,500.00. Following the completion of the sale, the insider now owns 36,837,346 shares of the company’s stock, valued at approximately $12,001,975,700.26. The trade was a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

  • On Wednesday, June 25th, Ernest C. Garcia II sold 4,971 shares of Carvana stock. The shares were sold at an average price of $325.15, for a total transaction of $1,616,320.65.
  • On Wednesday, June 11th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $337.46, for a total transaction of $16,873,000.00.
  • On Monday, June 9th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $330.27, for a total transaction of $16,513,500.00.
  • On Friday, June 6th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $346.99, for a total transaction of $34,699,000.00.
  • On Wednesday, June 4th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $339.58, for a total transaction of $16,979,000.00.
  • On Monday, June 2nd, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $325.94, for a total transaction of $16,297,000.00.
  • On Friday, May 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $325.16, for a total transaction of $16,258,000.00.

Carvana Trading Up 4.4%

NYSE CVNA opened at $319.87 on Friday. Carvana Co. has a 12 month low of $118.50 and a 12 month high of $351.43. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70. The company has a market capitalization of $68.50 billion, a price-to-earnings ratio of 112.24, a price-to-earnings-growth ratio of 1.24 and a beta of 3.65. The company’s fifty day moving average price is $293.50 and its two-hundred day moving average price is $244.99.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CVNA. Yousif Capital Management LLC raised its holdings in shares of Carvana by 4.1% during the first quarter. Yousif Capital Management LLC now owns 1,266 shares of the company’s stock worth $265,000 after purchasing an additional 50 shares during the period. Fidelis Capital Partners LLC raised its holdings in shares of Carvana by 3.4% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after purchasing an additional 51 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Carvana by 5.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company’s stock worth $256,000 after acquiring an additional 60 shares during the period. Commerce Bank increased its holdings in shares of Carvana by 1.6% in the 1st quarter. Commerce Bank now owns 4,446 shares of the company’s stock worth $930,000 after acquiring an additional 69 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Carvana by 3.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company’s stock worth $466,000 after acquiring an additional 72 shares during the period. 56.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on CVNA. Stephens reiterated an “overweight” rating and set a $300.00 price objective on shares of Carvana in a research note on Monday, March 3rd. Needham & Company LLC reiterated a “buy” rating and set a $340.00 price objective on shares of Carvana in a research note on Thursday, May 8th. Piper Sandler set a $340.00 price objective on shares of Carvana and gave the stock an “overweight” rating in a research note on Thursday, May 22nd. Robert W. Baird boosted their price objective on shares of Carvana from $200.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Finally, Royal Bank Of Canada upped their target price on shares of Carvana from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $284.18.

Get Our Latest Analysis on Carvana

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.

Featured Stories

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.