Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells $9,429,000.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $125.72, for a total transaction of $9,429,000.00. Following the transaction, the insider now owns 337,500 shares in the company, valued at approximately $42,430,500. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Carvana Trading Up 4.2 %

NYSE CVNA opened at $130.97 on Thursday. Carvana Co. has a 12 month low of $25.09 and a 12 month high of $136.92. The stock has a market cap of $26.53 billion, a price-to-earnings ratio of 57.44 and a beta of 3.37. The company’s 50 day moving average is $115.26 and its two-hundred day moving average is $82.54.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.35. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.72 billion. Sell-side analysts forecast that Carvana Co. will post -0.75 EPS for the current year.

Analyst Upgrades and Downgrades

CVNA has been the topic of several research analyst reports. Royal Bank of Canada upped their target price on shares of Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a research note on Thursday, May 2nd. JMP Securities restated a “market outperform” rating and set a $150.00 target price on shares of Carvana in a research note on Wednesday. Needham & Company LLC raised shares of Carvana from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a report on Wednesday. Wells Fargo & Company raised their price objective on shares of Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Finally, Evercore ISI raised their price objective on shares of Carvana from $118.00 to $135.00 and gave the stock an “in-line” rating in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $93.27.

Institutional Investors Weigh In On Carvana

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its position in shares of Carvana by 127.9% during the second quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock valued at $59,000 after buying an additional 257 shares during the last quarter. Hilltop National Bank bought a new stake in shares of Carvana during the second quarter valued at approximately $68,000. Blue Trust Inc. bought a new stake in shares of Carvana during the fourth quarter valued at approximately $29,000. Plato Investment Management Ltd bought a new stake in shares of Carvana during the first quarter valued at approximately $55,000. Finally, Parallel Advisors LLC raised its position in shares of Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after buying an additional 194 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

About Carvana

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.