Insider Selling: Carvana Co. (NYSE:CVNA) CEO Sells 3,086 Shares of Stock

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 3,086 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $324.54, for a total transaction of $1,001,530.44. Following the transaction, the chief executive officer now directly owns 795,000 shares of the company's stock, valued at approximately $258,009,300. This trade represents a 0.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Carvana Price Performance

• Carvana’s Stock Price Rebound Shifts Into a Higher Gear

Shares of CVNA traded up $7.26 during mid-day trading on Friday, reaching $326.91. 4,458,631 shares of the company's stock were exchanged, compared to its average volume of 3,957,444. The company has a market cap of $70.01 billion, a price-to-earnings ratio of 208.22 and a beta of 3.61. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. Carvana Co. has a 52-week low of $97.55 and a 52-week high of $327.64. The company has a 50-day simple moving average of $245.17 and a two-hundred day simple moving average of $235.17.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.76. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Carvana's quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 earnings per share. On average, sell-side analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

• Carvana: Can Turnaround Strength Outdrive Market Headwinds?

CVNA has been the subject of several analyst reports. Evercore ISI lowered their price target on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a report on Tuesday, March 11th. Bank of America raised their target price on shares of Carvana from $290.00 to $295.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Stephens reaffirmed an "overweight" rating and set a $300.00 price target on shares of Carvana in a report on Monday, March 3rd. Needham & Company LLC reiterated a "buy" rating and set a $340.00 target price on shares of Carvana in a research note on Thursday, May 8th. Finally, Royal Bank of Canada upped their price target on shares of Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Carvana presently has a consensus rating of "Moderate Buy" and an average target price of $275.65.

Get Our Latest Stock Analysis on CVNA

Institutional Trading of Carvana

• CarMax and Carvana: Steering the Used Car Market

Institutional investors have recently made changes to their positions in the business. Quent Capital LLC bought a new stake in shares of Carvana during the fourth quarter worth approximately $28,000. Brooklyn Investment Group increased its position in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after acquiring an additional 125 shares during the period. Global Retirement Partners LLC boosted its stake in shares of Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Rialto Wealth Management LLC acquired a new stake in Carvana during the 4th quarter worth approximately $31,000. Finally, N.E.W. Advisory Services LLC bought a new position in Carvana during the 1st quarter worth approximately $33,000. 56.71% of the stock is currently 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.

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