Carvana Co. (NYSE:CVNA) Major Shareholder Sells $34,462,138.56 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 98,528 shares of Carvana stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $349.77, for a total transaction of $34,462,138.56. Following the completion of the transaction, the insider directly owned 36,042,792 shares in the company, valued at approximately $12,606,687,357.84. This trade represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Ernest C. Garcia II also recently made the following trade(s):

• On Wednesday, July 16th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $352.40, for a total transaction of $35,240,000.00.
• On Tuesday, July 15th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $343.97, for a total transaction of $17,198,500.00.
• On Friday, July 11th, Ernest C. Garcia II sold 96,026 shares of Carvana stock. The shares were sold at an average price of $348.75, for a total transaction of $33,489,067.50.
• On Thursday, July 10th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $352.36, for a total transaction of $35,236,000.00.
• On Tuesday, July 8th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $353.76, for a total transaction of $35,376,000.00.
• On Wednesday, July 2nd, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $340.07, for a total transaction of $17,003,500.00.
• On Monday, June 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $327.07, for a total transaction of $16,353,500.00.
• On Wednesday, June 25th, Ernest C. Garcia II sold 4,971 shares of Carvana stock. The stock was sold at an average price of $325.15, for a total transaction of $1,616,320.65.
• On Tuesday, June 24th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $325.81, for a total transaction of $16,290,500.00.
• On Wednesday, June 11th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $337.46, for a total transaction of $16,873,000.00.

Carvana Stock Down 1.6%

Shares of CVNA opened at $346.53 on Friday. The firm has a market cap of $74.21 billion, a P/E ratio of 121.59, a P/E/G ratio of 1.37 and a beta of 3.59. The stock has a 50 day simple moving average of $322.61 and a two-hundred day simple moving average of $256.05. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70. Carvana Co. has a 1 year low of $118.50 and a 1 year high of $364.00.

Carvana (NYSE:CVNA) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $3.94 billion. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The business’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 earnings per share. On average, analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carvana

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Atria Investments Inc purchased a new stake in shares of Carvana in the fourth quarter worth $240,000. Independent Advisor Alliance bought a new position in Carvana in the fourth quarter valued at about $306,000. HighTower Advisors LLC lifted its holdings in Carvana by 179.7% in the fourth quarter. HighTower Advisors LLC now owns 4,035 shares of the company’s stock valued at $821,000 after acquiring an additional 9,098 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Carvana by 21.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock valued at $87,000 after acquiring an additional 74 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Carvana by 418.7% in the fourth quarter. Farther Finance Advisors LLC now owns 804 shares of the company’s stock worth $164,000 after buying an additional 649 shares during the period. Institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

CVNA has been the topic of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $340.00 price objective on shares of Carvana in a research report on Thursday, May 8th. Wall Street Zen raised shares of Carvana from a “hold” rating to a “buy” rating in a research report on Saturday, July 5th. JPMorgan Chase & Co. dropped their price target on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Morgan Stanley upped their price target on shares of Carvana from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Finally, Evercore ISI upped their price objective on shares of Carvana from $295.00 to $305.00 and gave the company an “in-line” rating in a report on Tuesday, June 24th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.00.

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.