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

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 10,000 shares of the business’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $300.62, for a total value of $3,006,200.00. Following the transaction, the chief executive officer now directly owns 830,000 shares in the company, valued at $249,514,600. This trade represents a 1.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Carvana Stock Performance

NYSE CVNA opened at $301.87 on Wednesday. The business has a 50 day moving average price of $225.94 and a 200 day moving average price of $231.24. 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 has a market capitalization of $64.64 billion, a P/E ratio of 192.27 and a beta of 3.61. Carvana Co. has a 1-year low of $97.55 and a 1-year high of $311.88.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.75 by $0.76. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same period in the prior year, the business earned $0.23 earnings per share. The company’s quarterly revenue was up 38.3% on a year-over-year basis. Sell-side analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Evercore ISI decreased their price target on Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research note on Tuesday, March 11th. Piper Sandler increased their target price on shares of Carvana from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 22nd. Royal Bank of Canada lifted their price target on shares of Carvana from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Robert W. Baird upped their price objective on shares of Carvana from $200.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Finally, Morgan Stanley lifted their target price on shares of Carvana from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Carvana has a consensus rating of “Moderate Buy” and an average price target of $269.18.

Institutional Trading of Carvana

A number of hedge funds have recently added to or reduced their stakes in CVNA. Quent Capital LLC purchased a new position in shares of Carvana during the 4th quarter worth about $28,000. Brooklyn Investment Group increased 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 worth $29,000 after buying an additional 125 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after buying an additional 78 shares during the period. Rialto Wealth Management LLC purchased a new position in shares of Carvana in the 4th quarter worth $31,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Carvana during the first quarter worth about $33,000. 56.71% of the stock is owned by institutional investors and hedge funds.

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.