Insider Selling: Carvana Co. (NYSE:CVNA) CEO Sells 18,100 Shares of Stock

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 18,100 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $116.24, for a total transaction of $2,103,944.00. Following the transaction, the chief executive officer now owns 896,449 shares of the company’s stock, valued at approximately $104,203,231.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Carvana Trading Up 4.5 %

Shares of NYSE:CVNA opened at $121.72 on Friday. Carvana Co. has a 12 month low of $6.92 and a 12 month high of $124.20. The stock has a market capitalization of $24.58 billion, a PE ratio of 53.39 and a beta of 3.28. The firm has a 50 day moving average of $81.81 and a 200-day moving average of $55.88.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the company posted ($0.97) EPS. The firm’s revenue was down 14.6% compared to the same quarter last year. On average, research analysts predict that Carvana Co. will post -3.32 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Robert W. Baird increased their price objective on shares of Carvana from $65.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday. Royal Bank of Canada upped their price objective on Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Thursday. JMP Securities raised their target price on shares of Carvana from $80.00 to $135.00 and gave the company a “market outperform” rating in a research note on Friday. Wells Fargo & Company increased their price target on shares of Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Morgan Stanley lifted their price objective on shares of Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Carvana presently has an average rating of “Hold” and a consensus price target of $73.44.

Institutional Investors Weigh In On Carvana

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. acquired a new position in Carvana in the 4th quarter worth about $29,000. Hanseatic Management Services Inc. acquired a new position in shares of Carvana in the third quarter valued at approximately $34,000. Parallel Advisors LLC raised its holdings in Carvana by 39.0% in the 4th 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. Harvest Fund Management Co. Ltd grew its holdings in Carvana by 1,225.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock worth $50,000 after acquiring an additional 1,103 shares during the last quarter. Finally, Tidemark LLC acquired a new position in Carvana in the 4th quarter valued at approximately $50,000. 56.71% of the stock is owned by institutional investors.

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.