Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III Sells 1,862 Shares

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 1,862 shares of Carvana stock in a transaction on Friday, June 6th. The stock was sold at an average price of $347.97, for a total value of $647,920.14. Following the sale, the chief executive officer now owns 770,000 shares in the company, valued at $267,936,900. This trade represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Carvana Stock Performance

NYSE CVNA traded down $1.06 during trading hours on Monday, reaching $340.40. The company’s stock had a trading volume of 3,360,206 shares, compared to its average volume of 3,949,117. The business has a 50-day simple moving average of $258.50 and a 200 day simple moving average of $238.41. 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 market cap of $72.89 billion, a PE ratio of 216.82 and a beta of 3.65. Carvana Co. has a 52 week low of $100.05 and a 52 week high of $351.43.

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

Hedge Funds Weigh In On Carvana

A number of institutional investors have recently made changes to their positions in CVNA. Quent Capital LLC bought a new position in shares of Carvana in the fourth quarter valued at approximately $28,000. Brooklyn Investment Group raised its holdings in Carvana by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after acquiring an additional 125 shares during the period. Global Retirement Partners LLC increased its holdings in shares of Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after purchasing an additional 78 shares during the period. Rialto Wealth Management LLC bought a new position in Carvana in the fourth quarter valued at approximately $31,000. Finally, N.E.W. Advisory Services LLC bought a new position in Carvana in the first quarter valued at approximately $33,000. 56.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on CVNA. Wedbush upgraded Carvana to a “hold” rating in a research note on Thursday, May 8th. DA Davidson boosted their target price on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Robert W. Baird upped their price target on Carvana from $200.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Evercore ISI cut 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. Finally, Needham & Company LLC restated a “buy” rating and issued a $340.00 price target on shares of Carvana in a research note on Thursday, May 8th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $275.65.

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.