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 dated Monday, June 9th. The shares were sold at an average price of $338.26, for a total transaction of $3,382,600.00. Following the completion of the sale, the chief executive officer now directly owns 765,000 shares of the company’s stock, valued at approximately $258,768,900. The trade was a 1.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Carvana Stock Performance

NYSE:CVNA opened at $296.71 on Friday. Carvana Co. has a twelve month low of $100.05 and a twelve month high of $351.43. 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’s 50-day simple moving average is $272.91 and its 200 day simple moving average is $241.05. The firm has a market capitalization of $63.54 billion, a PE ratio of 188.99 and a beta of 3.65.

Carvana (NYSE:CVNA) last posted its quarterly 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 company had revenue of $4.23 billion for 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 firm’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same period last year, the company posted $0.23 EPS. On average, analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Institutional Trading of Carvana

A number of hedge funds have recently added to or reduced their stakes in the stock. abrdn plc bought a new position in Carvana in the fourth quarter valued at about $294,000. Yousif Capital Management LLC acquired a new position in shares of Carvana in the fourth quarter valued at approximately $247,000. Bleakley Financial Group LLC raised its holdings in Carvana by 2.8% in the 4th quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock valued at $483,000 after buying an additional 65 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Carvana by 8,600.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 219,256 shares of the company’s stock worth $44,588,000 after buying an additional 216,736 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Carvana during the 4th quarter worth approximately $2,091,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analysts Set New Price Targets

CVNA has been the subject of several analyst reports. 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 research note on Thursday, May 8th. Citigroup raised their target price on shares of Carvana from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Stephens reiterated an “overweight” rating and issued a $300.00 price target on shares of Carvana in a research note on Monday, March 3rd. Wedbush upgraded Carvana to a “hold” rating in a research note on Thursday, May 8th. Finally, Bank of America upped their target price on Carvana from $325.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $280.35.

About Carvana

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.