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

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $328.00, for a total transaction of $3,280,000.00. Following the completion of the sale, the chief executive officer now directly owns 750,000 shares in the company, valued at $246,000,000. This represents a 1.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Carvana Stock Performance

Shares of Carvana stock opened at $296.71 on Friday. The firm has a market capitalization of $63.54 billion, a P/E ratio of 188.99 and a beta of 3.65. Carvana Co. has a 52 week low of $100.05 and a 52 week high of $351.43. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The firm’s 50 day moving average is $272.91 and its two-hundred day moving average is $241.05.

Carvana (NYSE:CVNA) last announced 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. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm’s revenue was up 38.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 earnings per share. Research analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CVNA shares. Bank of America lifted their target price on shares of Carvana from $325.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday. JMP Securities lowered their price target on shares of Carvana from $340.00 to $275.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. lowered 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. DA Davidson boosted their price objective on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Evercore ISI reduced their price objective on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a report on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $280.35.

Institutional Investors Weigh In On Carvana

Several large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock valued at $3,125,749,000 after acquiring an additional 1,823,218 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock valued at $2,620,785,000 after acquiring an additional 1,109,476 shares during the period. Lingotto Investment Management LLP boosted its holdings in shares of Carvana by 1.5% in the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock valued at $810,827,000 after acquiring an additional 57,215 shares during the period. Durable Capital Partners LP boosted its holdings in shares of Carvana by 6.3% in the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock valued at $440,932,000 after acquiring an additional 129,246 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Carvana by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock valued at $381,592,000 after acquiring an additional 75,250 shares during the period. 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.