Carvana Co. (NYSE:CVNA) Major Shareholder Sells $4,006,500.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 50,000 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $80.13, for a total transaction of $4,006,500.00. Following the completion of the transaction, the insider now directly owns 3,312,500 shares of the company’s stock, valued at approximately $265,430,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Carvana Price Performance

Shares of Carvana stock opened at $69.16 on Thursday. The firm has a market cap of $13.96 billion, a P/E ratio of 128.08 and a beta of 3.32. The firm has a 50 day simple moving average of $74.47 and a 200 day simple moving average of $51.99. Carvana Co. has a fifty-two week low of $6.70 and a fifty-two week high of $94.04.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. Carvana’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.97) earnings per share. On average, sell-side analysts expect that Carvana Co. will post -3.4 EPS for the current year.

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently modified their holdings of the stock. 1832 Asset Management L.P. bought a new position in Carvana in the first quarter valued at approximately $59,000. Blue Trust Inc. bought a new position in Carvana in the fourth quarter valued at approximately $29,000. Parallel Advisors LLC boosted its stake in Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after acquiring an additional 194 shares during the last quarter. Hanseatic Management Services Inc. bought a new position in Carvana in the third quarter valued at approximately $34,000. Finally, Studio Investment Management LLC bought a new position in Carvana in the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CVNA. William Blair raised shares of Carvana from a “market perform” rating to an “outperform” rating in a research report on Friday, February 23rd. Raymond James raised shares of Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 price objective on shares of Carvana in a report on Wednesday. Evercore ISI dropped their price objective on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a report on Tuesday. Finally, Morgan Stanley raised their price objective on shares of Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $50.53.

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.