Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells $4,004,500.00 in Stock

Carvana Co. (NYSE:CVNAGet Free Report) major shareholder Ernest C. Garcia II sold 50,000 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $80.09, for a total transaction of $4,004,500.00. Following the transaction, the insider now owns 3,262,500 shares in the company, valued at approximately $261,293,625. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 sales and purchases with the SEC.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $116.36 on Friday. The firm has a market cap of $23.49 billion, a price-to-earnings ratio of 215.49 and a beta of 3.28. The firm has a fifty day moving average price of $79.47 and a 200 day moving average price of $54.84. Carvana Co. has a fifty-two week low of $6.92 and a fifty-two week high of $122.30.

Carvana (NYSE:CVNAGet Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The business 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) EPS. As a group, research analysts predict that Carvana Co. will post -3.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CVNA shares. Wedbush increased their price objective on shares of Carvana from $80.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday. Jefferies Financial Group upgraded shares of Carvana from an “underperform” rating to a “hold” rating and increased their price target for the stock from $30.00 to $85.00 in a research report on Tuesday, March 12th. Needham & Company LLC reiterated a “hold” rating on shares of Carvana in a research report on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $80.00 price target on shares of Carvana in a research report on Wednesday, April 17th. Finally, Evercore ISI decreased their price target on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $70.00.

Check Out Our Latest Research Report on CVNA

Institutional Trading of Carvana

Several hedge funds have recently bought and sold shares of CVNA. Blue Trust Inc. purchased a new stake in Carvana in the 4th quarter worth $29,000. Hanseatic Management Services Inc. purchased a new stake in Carvana in the 3rd quarter worth $34,000. Parallel Advisors LLC lifted its stake in Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares in the last quarter. Harvest Fund Management Co. Ltd raised its position in shares of Carvana by 1,225.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock valued at $50,000 after buying an additional 1,103 shares in the last quarter. Finally, Tidemark LLC purchased a new stake in shares of Carvana during the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

About Carvana

(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.

Further Reading

Insider Buying and Selling by Quarter for Carvana (NYSE:CVNA)

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