Insider Selling: Carvana Co. (NYSE:CVNA) Major Shareholder Sells 100,000 Shares of Stock

by · The Markets Daily

Carvana Co. (NYSE:CVNA – Get Free Report) major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $191.37, for a total value of $19,137,000.00. Following the completion of the sale, the insider now directly owns 37,858,131 shares in the company, valued at $7,244,910,529.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Ernest C. Garcia II also recently made the following trade(s):

  • On Monday, October 21st, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $190.79, for a total value of $19,079,000.00.
  • 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 transaction 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 transaction 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 value 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 value 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 value of $17,464,000.00.
  • On Monday, September 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $171.68, for a total transaction of $17,168,000.00.
  • On Friday, September 27th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $169.88, for a total transaction of $16,988,000.00.

Carvana Trading Up 0.0 %

Shares of Carvana stock opened at $197.37 on Thursday. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. Carvana Co. has a 52 week low of $25.09 and a 52 week high of $200.50. The stock has a 50 day moving average price of $164.96 and a two-hundred day moving average price of $131.07. The stock has a market capitalization of $39.98 billion, a PE ratio of 86.75 and a beta of 3.44.

Carvana (NYSE:CVNA – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. As a group, equities analysts anticipate that Carvana Co. will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently made changes to their positions in CVNA. Mirae Asset Global Investments Co. Ltd. boosted its stake in Carvana by 64.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,931 shares of the company’s stock valued at $2,875,000 after purchasing an additional 6,665 shares during the last quarter. Highland Capital Management LLC purchased a new position in shares of Carvana during the third quarter valued at approximately $1,314,000. Ballentine Partners LLC bought a new stake in Carvana during the third quarter worth $246,000. Legacy Capital Group California Inc. bought a new position in Carvana during the 3rd quarter valued at $1,248,000. Finally, BOCHK Asset Management Ltd purchased a new position in Carvana during the 3rd quarter worth $104,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

CVNA has been the subject of a number of recent research reports. DA Davidson increased their price objective on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada raised Carvana to a “sector perform” rating and lifted their price objective for the stock from $166.00 to $170.00 in a research note on Monday, August 19th. JMP Securities reissued a “market outperform” rating and set a $200.00 target price on shares of Carvana in a research report on Monday, September 9th. Citigroup raised their price target on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Finally, Wedbush increased their price objective on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. One investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $182.29.

View Our Latest Stock Analysis on Carvana

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.

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