ERNEST C. II GARCIA, a 10% owner of Carvana ($CVNA), sold 7 shares of the company on 10-25-2024. We received data on the trade from a recent SEC filing. This was a sale of approximately 100.0% of their shares. Following this trade, they now own 0 shares of Carvana stock.
Carvana Insider Trading Activity
Carvana insiders have traded $CVNA stock on the open market 1010 times in the past 6 months. Of those trades, 0 have been purchases and 1010 have been sales.
Here’s a breakdown of recent trading of $CVNA stock by insiders over the last 6 months:
- ERNEST C. II GARCIA has traded it 889 times. They made 0 purchases and 889 sales, selling 9,790,814 shares.
- DANIEL J. GILL (Chief Product Officer) has traded it 12 times. They made 0 purchases and 12 sales, selling 150,630 shares.
- PAUL W. BREAUX (See Remarks) has traded it 15 times. They made 0 purchases and 15 sales, selling 126,400 shares.
- IRA J. PLATT has traded it 5 times. They made 0 purchases and 5 sales, selling 25,180 shares.
- MARK W. JENKINS (Chief Financial Officer) has traded it 41 times. They made 0 purchases and 41 sales, selling 138,000 shares.
- THOMAS TAIRA (President, Special Projects) has traded it 11 times. They made 0 purchases and 11 sales, selling 124,856 shares.
- MICHAEL E MAROONE sold 24,516 shares.
- J DANFORTH QUAYLE has traded it 6 times. They made 0 purchases and 6 sales, selling 25,368 shares.
- RYAN S. KEETON (Chief Brand Officer) has traded it 7 times. They made 0 purchases and 7 sales, selling 22,936 shares.
- GREGORY B SULLIVAN sold 5,000 shares.
- STEPHEN R PALMER (Vice President of Accounting) has traded it 11 times. They made 0 purchases and 11 sales, selling 5,480 shares.
- ERNEST C. III GARCIA (Chief Executive Officer) has traded it 4 times. They made 0 purchases and 4 sales, selling 18,100 shares.
- BENJAMIN E. HUSTON (Chief Operating Officer) has traded it 7 times. They made 0 purchases and 7 sales, selling 18,000 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
Carvana Hedge Fund Activity
We have seen 257 institutional investors add shares of Carvana stock to their portfolio, and 164 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MORGAN STANLEY removed 8,542,759 shares (-58.1%) from their portfolio in Q2 2024
- PRICE T ROWE ASSOCIATES INC /MD/ added 4,594,322 shares (+61.6%) to their portfolio in Q2 2024
- BLACKROCK INC. removed 3,063,397 shares (-38.4%) from their portfolio in Q2 2024
- FMR LLC added 2,686,509 shares (+70.8%) to their portfolio in Q2 2024
- QUBE RESEARCH & TECHNOLOGIES LTD added 903,616 shares (+100625.4%) to their portfolio in Q2 2024
- DURABLE CAPITAL PARTNERS LP added 840,131 shares (+inf%) to their portfolio in Q2 2024
- D. E. SHAW & CO., INC. removed 828,950 shares (-18.5%) from their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Should I Buy $CVNA Stock?
The bull case for Carvana ($CVNA) is anchored in its stronger-than-expected retail unit sales in the third quarter, suggesting robust demand and the potential for increased revenues. The company's capacity to achieve economies of scale enhances fixed-cost leverage, contributing to improved profitability and sustained growth in gross profit per unit since 2021. Additionally, the reduction in advertising costs per vehicle, particularly in mature and newly entered markets, coupled with effective cost optimization strategies, paints a positive picture for Carvana's future financial performance and its goal of surpassing 3 million units in sales. Conversely, the bear case highlights a troubling decline in unit sales trends, dropping to a low-70k run-rate, which is significantly below prior forecasts. Concerns are further amplified by Carvana’s indifference towards growing its EBITDA in 2024, leading to a downward revision in expected unit growth from 22% to only 8%. This lack of growth, despite improved capital access, poses risks to the company’s ability to manage its existing debt, casting doubt on its long-term viability and resulting in a potentially unfavorable risk/reward scenario for investors.
Background on $CVNA Stock
Carvana Co. (CVNA) is an American e-commerce platform specializing in the buying and selling of used cars. Founded in 2012, the company pioneered a digital-first approach to vehicle sales, allowing customers to browse, finance, and purchase vehicles online. Carvana offers a vast inventory of used cars, complete with a detailed 360-degree vehicle inspection feature, which enhances transparency and consumer trust. Once a purchase is made, customers can choose to have their vehicle delivered to their doorstep or pick it up at one of the company's car vending machines, which provide a unique, automated vehicle delivery experience. Emphasizing convenience and streamlined processes, Carvana aims to transform the traditional car-buying experience into a hassle-free, online transaction.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.