Insider Selling: Carvana Co. (NYSE:CVNA) CEO Sells 10,000 Shares of Stock

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction on Friday, May 16th. The stock was sold at an average price of $300.15, for a total transaction of $3,001,500.00. Following the sale, the chief executive officer now directly owns 835,000 shares of the company’s stock, valued at $250,625,250. This represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Carvana Stock Performance

NYSE CVNA opened at $301.91 on Friday. The firm has a market cap of $64.65 billion, a price-to-earnings ratio of 192.30 and a beta of 3.61. The company has a 50-day simple moving average of $230.47 and a two-hundred day simple moving average of $232.18. 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 12-month low of $97.55 and a 12-month high of $311.88.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.75 by $0.76. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 earnings per share. On average, equities analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Hedge Funds Weigh In On Carvana

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. raised its stake in shares of Carvana by 251.4% during the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock valued at $53,000 after acquiring an additional 181 shares during the last quarter. IFM Investors Pty Ltd raised its stake in shares of Carvana by 0.6% during the first quarter. IFM Investors Pty Ltd now owns 21,061 shares of the company’s stock valued at $4,403,000 after acquiring an additional 135 shares during the last quarter. Bayforest Capital Ltd raised its stake in shares of Carvana by 41.5% during the first quarter. Bayforest Capital Ltd now owns 1,773 shares of the company’s stock valued at $371,000 after acquiring an additional 520 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Carvana by 27.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 529,596 shares of the company’s stock valued at $110,728,000 after acquiring an additional 114,526 shares during the last quarter. Finally, Fred Alger Management LLC raised its stake in shares of Carvana by 139.7% during the first quarter. Fred Alger Management LLC now owns 33,083 shares of the company’s stock valued at $6,917,000 after acquiring an additional 19,279 shares during the last quarter. 56.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CVNA shares. Robert W. Baird lifted their price objective on shares of Carvana from $200.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Piper Sandler set a $340.00 price objective on shares of Carvana and gave the stock an “overweight” rating in a report on Thursday. Evercore ISI dropped their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and set a $340.00 price objective on shares of Carvana in a report on Thursday, May 8th. Finally, Stephens reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Carvana in a report on Monday, March 3rd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $275.65.

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.