Carvana Co. (NYSE:CVNA) Major Shareholder Ernest C. Garcia II Sells 50,000 Shares

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 50,000 shares of the business’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $325.81, for a total value of $16,290,500.00. Following the sale, the insider now directly owns 36,837,346 shares of the company’s stock, valued at $12,001,975,700.26. This represents a 0.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Ernest C. Garcia II also recently made the following trade(s):

• On Wednesday, June 25th, Ernest C. Garcia II sold 4,971 shares of Carvana stock. The stock was sold at an average price of $325.15, for a total value of $1,616,320.65.
• On Wednesday, June 11th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $337.46, for a total value of $16,873,000.00.
• On Monday, June 9th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $330.27, for a total transaction of $16,513,500.00.
• On Friday, June 6th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $346.99, for a total transaction of $34,699,000.00.
• On Wednesday, June 4th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $339.58, for a total transaction of $16,979,000.00.
• On Monday, June 2nd, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $325.94, for a total transaction of $16,297,000.00.
• On Friday, May 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $325.16, for a total value of $16,258,000.00.

Carvana Stock Up 4.4%

Shares of NYSE CVNA opened at $319.87 on Friday. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97. Carvana Co. has a 12-month low of $118.50 and a 12-month high of $351.43. The firm’s 50-day moving average price is $293.50 and its 200-day moving average price is $245.03. The stock has a market capitalization of $68.50 billion, a price-to-earnings ratio of 112.24, a P/E/G ratio of 1.19 and a beta of 3.65.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.76. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The company’s revenue for the quarter was up 38.3% on a year-over-year basis. During the same period last year, the company earned $0.23 EPS. On average, equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on CVNA shares. Wells Fargo & Company boosted their price objective on Carvana from $290.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Stephens reissued an “overweight” rating and issued a $300.00 price target on shares of Carvana in a report on Monday, March 3rd. Bank of America upped their price target on Carvana from $325.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Piper Sandler set a $340.00 price objective on shares of Carvana and gave the company an “overweight” rating in a research report on Thursday, May 22nd. Finally, JMP Securities lowered their target price on shares of Carvana from $340.00 to $275.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 9th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $284.18.

Institutional Trading of Carvana

A number of large investors have recently made changes to their positions in the stock. AG2R LA Mondiale Gestion D Actifs purchased a new position in Carvana in the 1st quarter worth about $1,448,000. Swedbank AB raised its stake in shares of Carvana by 29.2% during the first quarter. Swedbank AB now owns 69,013 shares of the company’s stock valued at $14,429,000 after acquiring an additional 15,600 shares in the last quarter. Strs Ohio purchased a new stake in shares of Carvana in the first quarter valued at approximately $852,000. Geneos Wealth Management Inc. grew its position in shares of Carvana by 251.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after buying an additional 181 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its stake in shares of Carvana by 0.6% during the first quarter. IFM Investors Pty Ltd now owns 21,061 shares of the company’s stock valued at $4,403,000 after buying an additional 135 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

About Carvana

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.