Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells $19,079,000.00 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 Monday, October 21st. The stock was sold at an average price of $190.79, for a total value of $19,079,000.00. Following the transaction, the insider now owns 37,658,131 shares in the company, valued at approximately $7,184,794,813.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 Friday, October 25th, Ernest C. Garcia II sold 15,814 shares of Carvana stock. The shares were sold at an average price of $201.16, for a total transaction of $3,181,144.24.
• On Wednesday, October 23rd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $197.20, for a total transaction of $19,720,000.00.
• On Friday, October 18th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $191.37, for a total transaction of $19,137,000.00.
• 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 transaction of $19,306,000.00.
• On Monday, October 14th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $190.47, for a total value of $19,047,000.00.
• On Friday, October 11th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $192.55, for a total value of $19,255,000.00.
• 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 shares were 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.

Carvana Stock Performance

CVNA opened at $202.60 on Friday. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. Carvana Co. has a 12-month low of $25.09 and a 12-month high of $203.72. The business has a 50 day moving average of $167.97 and a 200-day moving average of $132.84. The stock has a market cap of $41.04 billion, a price-to-earnings ratio of 88.86 and a beta of 3.44.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.23 billion. On average, equities research analysts expect that Carvana Co. will post 0.29 earnings per share for the current year.

Analysts Set New Price Targets

CVNA has been the topic of several recent research reports. DA Davidson lifted their price target on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Wedbush lifted their target price on Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Royal Bank of Canada raised Carvana to a “sector perform” rating and upped their price target for the stock from $166.00 to $170.00 in a research report on Monday, August 19th. Piper Sandler lifted their price objective on shares of Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Stephens assumed coverage on shares of Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 target price for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $182.29.

Institutional Trading of Carvana

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Empirical Asset Management LLC boosted its stake in Carvana by 2.0% in the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock valued at $890,000 after purchasing an additional 100 shares during the period. Bleakley Financial Group LLC grew its stake in shares of Carvana by 6.0% in the third quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock valued at $402,000 after acquiring an additional 130 shares in the last quarter. CWM LLC increased its position in Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after acquiring an additional 144 shares during the period. GAMMA Investing LLC grew its holdings in shares of Carvana by 32.8% during the 3rd quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock worth $106,000 after purchasing an additional 150 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Carvana by 2.9% in the third quarter. Sequoia Financial Advisors LLC now owns 6,122 shares of the company’s stock worth $1,066,000 after purchasing an additional 175 shares during the period. 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.