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 shares were sold at an average price of $116.24, for a total value of $2,103,944.00. Following the sale, the chief executive officer now directly owns 896,449 shares in the company, valued at approximately $104,203,231.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Carvana Stock Performance

CVNA stock opened at $121.67 on Monday. The firm has a market cap of $24.57 billion, a P/E ratio of 53.36 and a beta of 3.28. Carvana Co. has a 1 year low of $6.92 and a 1 year high of $124.20. The stock has a 50-day simple moving average of $81.81 and a 200-day simple moving average of $56.03.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the prior year, the company earned ($0.97) EPS. Carvana’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, equities research analysts predict that Carvana Co. will post -3.05 EPS for the current year.

Analyst Ratings Changes

CVNA has been the topic of several analyst reports. JMP Securities raised their price target on shares of Carvana from $80.00 to $135.00 and gave the stock a “market outperform” rating in a research note on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Carvana in a research note on Thursday. Raymond James raised Carvana from an “underperform” rating to a “market perform” rating in a research note on Friday, February 23rd. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research report on Thursday. Finally, Wells Fargo & Company increased their target price on Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Carvana currently has an average rating of “Hold” and a consensus target price of $73.44.

Institutional Trading of Carvana

A number of hedge funds have recently made changes to their positions in CVNA. Parallel Advisors LLC raised its holdings in Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after acquiring an additional 194 shares in the last quarter. Diversified Trust Co lifted its stake in Carvana by 6.0% in the fourth quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock valued at $300,000 after buying an additional 319 shares during the last quarter. Arizona State Retirement System lifted its stake in Carvana by 1.5% in the third quarter. Arizona State Retirement System now owns 25,698 shares of the company’s stock valued at $1,079,000 after buying an additional 377 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Carvana by 11.9% during the first quarter. Sequoia Financial Advisors LLC now owns 4,687 shares of the company’s stock valued at $412,000 after acquiring an additional 500 shares during the period. Finally, Blue Trust Inc. acquired a new stake in shares of Carvana in the 4th quarter worth about $29,000. Institutional investors and hedge funds 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.