Carvana Co. (NYSE:CVNA) CEO Sells $1,871,016.00 in Stock

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 5,439 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $344.00, for a total transaction of $1,871,016.00. Following the sale, the chief executive officer owned 691,440 shares in the company, valued at $237,855,360. This trade represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Carvana Price Performance

Shares of NYSE:CVNA opened at $348.51 on Friday. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70. Carvana Co. has a 12 month low of $118.50 and a 12 month high of $351.43. The firm has a market capitalization of $74.63 billion, a P/E ratio of 122.28, a P/E/G ratio of 1.34 and a beta of 3.59. The company’s fifty day moving average price is $303.62 and its 200 day moving average price is $247.55.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, topping 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 return on equity of 44.86% and a net margin of 2.68%. The firm’s revenue was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 earnings per share. As a group, sell-side analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CVNA has been the subject of a number of research reports. Wells Fargo & Company lifted their price objective on shares of Carvana from $290.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Morgan Stanley increased their price objective on Carvana from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, May 15th. Bank of America lifted their target price on Carvana from $325.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Royal Bank Of Canada upped their price target on Carvana from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Finally, Wall Street Zen lowered Carvana from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Carvana has an average rating of “Moderate Buy” and a consensus target price of $293.88.

Institutional Trading of Carvana

Institutional investors and hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group grew its position in Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after purchasing an additional 125 shares during the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of Carvana in the fourth quarter valued at about $31,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Carvana during the first quarter worth about $33,000. Transce3nd LLC purchased a new position in shares of Carvana during the fourth quarter worth about $48,000. Finally, Geneos Wealth Management Inc. increased its position in Carvana by 251.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock valued at $53,000 after acquiring an additional 181 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.