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 firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $300.15, for a total value of $3,001,500.00. Following the completion of the sale, the chief executive officer now owns 835,000 shares of the company’s stock, valued at approximately $250,625,250. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Carvana Stock Down 3.3%

NYSE:CVNA opened at $292.33 on Thursday. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The stock has a fifty day simple moving average of $228.16 and a 200-day simple moving average of $231.66. The company has a market cap of $62.60 billion, a price-to-earnings ratio of 186.20 and a beta of 3.61. Carvana Co. has a twelve month low of $97.55 and a twelve month high of $311.88.

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 the consensus estimate of $0.75 by $0.76. The firm had revenue of $4.23 billion during 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 firm’s quarterly revenue was up 38.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share. Analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVNA. Morgan Stanley raised their price target on Carvana from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. William Blair restated an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Citigroup raised their price target on Carvana from $280.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Evercore ISI lowered their price target on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, March 11th. Finally, Bank of America raised their price target on Carvana from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Six equities research 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, Carvana currently has a consensus rating of “Moderate Buy” and an average target price of $269.18.

Institutional Trading of Carvana

Institutional investors and hedge funds have recently made changes to their positions in the company. Quent Capital LLC bought a new stake in shares of Carvana in the fourth quarter valued at about $28,000. Brooklyn Investment Group raised its holdings in shares of Carvana by 961.5% in the first 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 raised its holdings in shares of Carvana by 109.9% in the fourth 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 bought a new stake in shares of Carvana in the fourth quarter valued at about $31,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Carvana in the first quarter valued at about $33,000. 56.71% of the stock is currently owned by institutional investors.

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.