Ernest C. Garcia III Sells 10,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 10,000 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $344.45, for a total transaction of $3,444,500.00. Following the completion of the transaction, the chief executive officer now directly owns 775,000 shares of the company’s stock, valued at $266,948,750. This trade represents a 1.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Carvana Stock Performance

Shares of CVNA stock traded down $1.06 during trading hours on Monday, reaching $340.40. 3,360,206 shares of the company’s stock were exchanged, compared to its average volume of 3,949,117. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The company’s 50 day moving average is $258.50 and its two-hundred day moving average is $238.41. The company has a market cap of $72.89 billion, a P/E ratio of 216.82 and a beta of 3.65. Carvana Co. has a 1 year low of $100.05 and a 1 year high of $351.43.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $0.75 by $0.76. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $3.94 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company’s revenue was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Carvana

Several large investors have recently added to or reduced their stakes in the company. Yousif Capital Management LLC raised its stake in shares of Carvana by 4.1% during the first quarter. Yousif Capital Management LLC now owns 1,266 shares of the company’s stock worth $265,000 after buying an additional 50 shares during the last quarter. Fidelis Capital Partners LLC grew its holdings in Carvana by 3.4% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after purchasing an additional 51 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Carvana by 5.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company’s stock valued at $256,000 after buying an additional 60 shares in the last quarter. Bleakley Financial Group LLC raised its position in Carvana by 2.8% during the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock valued at $483,000 after purchasing an additional 65 shares in the last quarter. Finally, Commerce Bank increased its holdings in shares of Carvana by 1.6% during the first quarter. Commerce Bank now owns 4,446 shares of the company’s stock worth $930,000 after buying an additional 69 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

CVNA has been the topic of several analyst reports. Needham & Company LLC reissued a “buy” rating and set a $340.00 price target on shares of Carvana in a research report on Thursday, May 8th. DA Davidson increased their target price on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Evercore ISI decreased their target price on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 11th. Robert W. Baird increased their price objective on shares of Carvana from $200.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Finally, Bank of America lifted their target price on shares of Carvana from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and an average target price 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.