Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells 50,000 Shares of Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $80.09, for a total value of $4,004,500.00. Following the completion of the transaction, the insider now owns 3,262,500 shares of the company’s stock, valued at approximately $261,293,625. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Carvana Stock Down 1.0 %

Shares of NYSE:CVNA traded down $0.81 during trading on Tuesday, hitting $82.95. 3,915,287 shares of the stock traded hands, compared to its average volume of 5,980,688. The company has a fifty day moving average price of $78.09 and a two-hundred day moving average price of $54.27. Carvana Co. has a 52-week low of $6.70 and a 52-week high of $94.04. The company has a market cap of $16.75 billion, a price-to-earnings ratio of 153.56 and a beta of 3.32.

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

Institutional Investors Weigh In On Carvana

Several institutional investors have recently bought and sold shares of CVNA. Morgan Stanley grew its holdings in shares of Carvana by 13.8% during the third quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock worth $619,478,000 after buying an additional 1,784,009 shares in the last quarter. Vanguard Group Inc. raised its holdings in Carvana by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after acquiring an additional 655,603 shares during the last quarter. FMR LLC lifted its stake in Carvana by 0.5% in the 3rd quarter. FMR LLC now owns 4,696,510 shares of the company’s stock worth $197,160,000 after purchasing an additional 24,560 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Carvana by 17.1% during the 4th quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock worth $78,560,000 after purchasing an additional 216,893 shares during the last quarter. Finally, Goodnow Investment Group LLC increased its holdings in shares of Carvana by 1.6% in the fourth quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock valued at $77,532,000 after purchasing an additional 23,140 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVNA has been the subject of a number of research reports. William Blair upgraded Carvana from a “market perform” rating to an “outperform” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. increased their price target on shares of Carvana from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 18th. TD Cowen lifted their price target on shares of Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research report on Monday. Royal Bank of Canada upgraded shares of Carvana from an “underperform” rating to a “sector perform” rating and lifted their target price for the company from $45.00 to $90.00 in a report on Friday, March 8th. Finally, JMP Securities reissued a “market outperform” rating and issued a $80.00 price target on shares of Carvana in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $56.75.

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.