Carvana (NYSE:CVNA) CEO Ernest Garcia III Sells 10,000 Shares of Stock

Carvana Co. (NYSE:CVNA) CEO Ernest Garcia III sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $373.76, for a total transaction of $3,737,600.00. Following the transaction, the chief executive officer owned 401,440 shares of the company’s stock, valued at approximately $150,042,214.40. This trade represents a 2.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Carvana Price Performance

NYSE:CVNA opened at $371.56 on Friday. The firm has a market cap of $79.96 billion, a P/E ratio of 93.12, a price-to-earnings-growth ratio of 1.23 and a beta of 3.51. The stock has a 50 day moving average of $359.16 and a two-hundred day moving average of $300.38. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $413.33. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the previous year, the business earned ($0.05) earnings per share. The firm’s revenue for the quarter was up 41.9% on a year-over-year basis. On average, analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Institutional Trading of Carvana

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hilltop National Bank purchased a new stake in shares of Carvana in the 2nd quarter valued at $25,000. Brooklyn Investment Group increased its stake in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after purchasing an additional 125 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in shares of Carvana during the first quarter worth about $33,000. SJS Investment Consulting Inc. boosted its stake in shares of Carvana by 960.0% in the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 96 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Carvana in the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

CVNA has been the subject of a number of recent research reports. Citigroup reiterated an “outperform” rating on shares of Carvana in a report on Thursday, July 31st. Wall Street Zen upgraded Carvana from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Gordon Haskett initiated coverage on Carvana in a research note on Monday, July 14th. They set a “hold” rating and a $329.00 price objective on the stock. Wells Fargo & Company lifted their price target on Carvana from $390.00 to $425.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Finally, Bank of America upped their price objective on shares of Carvana from $375.00 to $425.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.88.

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.