Carvana (NYSE:CVNA) Trading Down 2.2% on Insider Selling

Shares of Carvana Co. (NYSE:CVNA) dropped 2.2% on Tuesday after an insider sold shares in the company. The stock traded as low as $170.69 and last traded at $171.29. Approximately 285,652 shares traded hands during trading, a decline of 94% from the average daily volume of 5,084,950 shares. The stock had previously closed at $175.15.

Specifically, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.46, for a total value of $16,846,000.00. Following the sale, the insider now directly owns 39,858,131 shares in the company, valued at approximately $6,714,500,748.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Daniel J. Gill sold 30,000 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the completion of the transaction, the insider now owns 328,329 shares of the company’s stock, valued at approximately $57,457,575. The disclosure for this sale can be found here. In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the sale, the insider now owns 40,058,131 shares of the company’s stock, valued at $6,209,010,305. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Analyst Ratings Changes

CVNA has been the topic of several research analyst reports. TD Cowen raised their target price on shares of Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their price target on shares of Carvana from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. JMP Securities restated a “market outperform” rating and set a $200.00 price objective on shares of Carvana in a research report on Monday, September 9th. Stephens started coverage on shares of Carvana in a report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 target price on the stock. Finally, DA Davidson raised their target price on shares of Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Carvana presently has a consensus rating of “Hold” and a consensus price target of $153.88.

Carvana Stock Down 1.4 %

The business has a fifty day moving average price of $144.33 and a two-hundred day moving average price of $116.89. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. The company has a market cap of $34.99 billion, a price-to-earnings ratio of 75.75 and a beta of 3.43.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. On average, equities analysts predict that Carvana Co. will post 0.18 earnings per share for the current year.

Hedge Funds Weigh In On Carvana

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Carvana by 2.7% during the first quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock valued at $904,642,000 after acquiring an additional 266,972 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Carvana by 39.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after purchasing an additional 2,112,463 shares during the last quarter. Lingotto Investment Management LLP lifted its stake in shares of Carvana by 1.4% in the 2nd quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock valued at $486,143,000 after purchasing an additional 52,833 shares during the last quarter. First Trust Advisors LP boosted its holdings in Carvana by 17.1% in the fourth 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 in the last quarter. Finally, Goodnow Investment Group LLC raised its holdings in Carvana by 1.6% during the fourth quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock valued at $77,532,000 after buying an additional 23,140 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

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.