Ernest C. Garcia III Sells 9,580 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 9,580 shares of Carvana stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $329.40, for a total value of $3,155,652.00. Following the transaction, the chief executive officer owned 701,650 shares in the company, valued at $231,123,510. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Carvana Stock Up 1.5%

Shares of NYSE:CVNA opened at $348.51 on Friday. The business’s 50-day moving average is $303.62 and its 200-day moving average is $247.55. Carvana Co. has a 1 year low of $118.50 and a 1 year high of $351.43. The company has a market capitalization of $74.63 billion, a price-to-earnings ratio of 122.28, a P/E/G ratio of 1.34 and a beta of 3.59. 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 (NYSE:CVNA) last issued its quarterly earnings results 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 firm 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 company’s revenue was up 38.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 earnings per share. Equities research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Institutional Trading of Carvana

Several hedge funds have recently modified their holdings of CVNA. Price T Rowe Associates Inc. MD boosted its stake in Carvana by 13.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after acquiring an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after purchasing an additional 1,109,476 shares in the last quarter. Durable Capital Partners LP grew its stake in shares of Carvana by 6.3% in the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock valued at $440,932,000 after buying an additional 129,246 shares during the period. Geode Capital Management LLC grew its stake in shares of Carvana by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock valued at $381,592,000 after buying an additional 75,250 shares during the period. Finally, Whale Rock Capital Management LLC increased its position in Carvana by 29.8% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company’s stock valued at $247,017,000 after buying an additional 278,760 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Piper Sandler set a $340.00 price objective on Carvana and gave the stock an “overweight” rating in a report on Thursday, May 22nd. Citigroup reaffirmed an “outperform” rating on shares of Carvana in a research note on Wednesday. Evercore ISI lifted their price objective on shares of Carvana from $295.00 to $305.00 and gave the company an “in-line” rating in a report on Tuesday, June 24th. JMP Securities set a $440.00 target price on shares of Carvana and gave the stock a “market outperform” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $293.88.

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.