Ernest C. Garcia III Sells 8,138 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 8,138 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $342.12, for a total value of $2,784,172.56. Following the completion of the sale, the chief executive officer now owns 770,931 shares of the company’s stock, valued at $263,750,913.72. The trade was a 1.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Carvana Trading Down 0.3%

CVNA opened at $338.82 on Wednesday. Carvana Co. has a twelve month low of $100.05 and a twelve month high of $351.43. The company has a 50-day simple moving average of $263.92 and a 200 day simple moving average of $239.67. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The stock has a market capitalization of $72.55 billion, a price-to-earnings ratio of 215.81 and a beta of 3.65.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.76. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $0.23 EPS. Analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Carvana

Large investors have recently modified their holdings of the business. Quent Capital LLC acquired a new stake in shares of Carvana during the 4th quarter valued at $28,000. Brooklyn Investment Group boosted its holdings in shares of Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after acquiring an additional 125 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after acquiring an additional 78 shares in the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of Carvana during the 4th quarter valued at $31,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Carvana during the 1st quarter valued at $33,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on CVNA shares. Needham & Company LLC reissued a “buy” rating and set a $340.00 target price on shares of Carvana in a research report on Thursday, May 8th. JPMorgan Chase & Co. decreased their target price on Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. JMP Securities cut their price target on Carvana from $340.00 to $275.00 and set a “market outperform” rating for the company in a report on Wednesday, April 9th. DA Davidson lifted their price objective on Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, Wedbush raised Carvana to a “hold” 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $280.35.

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.