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

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $337.22, for a total value of $16,861,000.00. Following the sale, the insider directly owned 35,542,792 shares in the company, valued at approximately $11,985,740,318.24. This represents a 0.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, July 21st, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $342.96, for a total value of $17,148,000.00.
• On Friday, July 18th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $341.08, for a total value of $17,054,000.00.
• On Wednesday, July 16th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $352.40, for a total value of $35,240,000.00.
• On Tuesday, July 15th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $343.97, for a total value of $17,198,500.00.
• On Monday, July 14th, Ernest C. Garcia II sold 98,528 shares of Carvana stock. The shares were sold at an average price of $349.77, for a total value of $34,462,138.56.
• On Friday, July 11th, Ernest C. Garcia II sold 96,026 shares of Carvana stock. The shares were sold at an average price of $348.75, for a total value of $33,489,067.50.
• On Thursday, July 10th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $352.36, for a total value of $35,236,000.00.
• On Tuesday, July 8th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $353.76, for a total value of $35,376,000.00.
• On Wednesday, July 2nd, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $340.07, for a total value of $17,003,500.00.
• On Monday, June 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $327.07, for a total value of $16,353,500.00.

Carvana Trading Up 1.7%

Shares of CVNA stock opened at $331.67 on Friday. The firm has a 50 day moving average price of $328.40 and a two-hundred day moving average price of $262.44. The company has a quick ratio of 2.70, a current ratio of 3.81 and a debt-to-equity ratio of 2.97. The company has a market capitalization of $71.02 billion, a PE ratio of 116.38, a price-to-earnings-growth ratio of 1.28 and a beta of 3.59. Carvana Co. has a 12-month low of $118.50 and a 12-month high of $364.00.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 38.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. As a group, analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVNA. Oppenheimer upgraded Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price target on the stock in a report on Friday. Needham & Company LLC reissued a “buy” rating and set a $340.00 price target on shares of Carvana in a research report on Thursday, May 8th. Citigroup increased their price target on Carvana from $325.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Piper Sandler set a $340.00 price target on Carvana and gave the stock an “overweight” rating in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada upped their price objective on Carvana from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Carvana has an average rating of “Moderate Buy” and an average target price of $318.16.

Hedge Funds Weigh In On Carvana

A number of large investors have recently made changes to their positions in CVNA. Price T Rowe Associates Inc. MD increased its stake in shares of 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 purchasing an additional 1,823,218 shares during the period. 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 acquiring an additional 1,109,476 shares in the last quarter. Norges Bank acquired a new stake in shares of Carvana during the 4th quarter worth approximately $179,364,000. Castle Hook Partners LP acquired a new stake in shares of Carvana during the 4th quarter worth approximately $116,020,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Carvana by 89.8% during the 4th quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company’s stock worth $207,086,000 after acquiring an additional 481,912 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

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.