Insider Selling: Carvana Co (CVNA) Major Shareholder Sells 191,396 Shares of Stock

Carvana Co (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 191,396 shares of the company’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $45.40, for a total transaction of $8,689,378.40. Following the completion of the sale, the insider now owns 52,937,458 shares in the company, valued at approximately $2,403,360,593.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Shares of NYSE:CVNA traded up $5.30 during trading on Thursday, reaching $51.47. 3,636,352 shares of the stock traded hands, compared to its average volume of 1,042,502. Carvana Co has a 52-week low of $13.58 and a 52-week high of $72.59. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.29. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of -42.54 and a beta of 2.13.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, November 7th. The company reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.03). Carvana had a negative net margin of 5.30% and a negative return on equity of 33.44%. The firm had revenue of $535.00 million for the quarter, compared to analysts’ expectations of $509.09 million. During the same quarter in the previous year, the company earned ($0.29) EPS. The company’s quarterly revenue was up 137.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Carvana Co will post -1.5 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Carvana by 94.3% in the second quarter. BlackRock Inc. now owns 1,858,986 shares of the company’s stock worth $77,335,000 after purchasing an additional 902,271 shares during the last quarter. 683 Capital Management LLC boosted its holdings in Carvana by 11.4% in the second quarter. 683 Capital Management LLC now owns 1,561,634 shares of the company’s stock worth $64,964,000 after purchasing an additional 160,294 shares during the last quarter. Sylebra HK Co Ltd boosted its holdings in Carvana by 8.7% in the second quarter. Sylebra HK Co Ltd now owns 1,415,133 shares of the company’s stock worth $58,870,000 after purchasing an additional 112,720 shares during the last quarter. Frontier Capital Management Co. LLC purchased a new stake in Carvana in the second quarter worth approximately $43,726,000. Finally, Whale Rock Capital Management LLC purchased a new stake in Carvana in the second quarter worth approximately $35,039,000. Hedge funds and other institutional investors own 25.96% of the company’s stock.

A number of equities research analysts have weighed in on CVNA shares. Wells Fargo & Co upped their price objective on shares of Carvana from $60.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, October 1st. Wolfe Research started coverage on shares of Carvana in a report on Tuesday, October 2nd. They issued an “outperform” rating on the stock. Citigroup increased their price target on shares of Carvana from $67.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, September 11th. They noted that the move was a valuation call. Robert W. Baird increased their price target on shares of Carvana from $53.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, August 9th. Finally, Craig Hallum reiterated a “hold” rating on shares of Carvana in a report on Thursday, September 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. Carvana has a consensus rating of “Buy” and an average price target of $59.05.

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About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up.

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

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