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

Carvana Co. (NYSE:CVNA) CEO Ernest Garcia III sold 10,000 shares of Carvana stock in a transaction on Friday, September 26th. The shares were sold at an average price of $366.53, for a total value of $3,665,300.00. Following the sale, the chief executive officer directly owned 391,440 shares in the company, valued at $143,474,503.20. The trade was a 2.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Carvana Stock Up 6.0%

CVNA opened at $391.40 on Tuesday. Carvana Co. has a one year low of $148.25 and a one year high of $413.33. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The stock’s fifty day moving average is $360.59 and its 200-day moving average is $305.01. The company has a market capitalization of $84.23 billion, a PE ratio of 98.10, a P/E/G ratio of 1.21 and a beta of 3.51.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada lifted their target price on Carvana from $400.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Evercore ISI lifted their target price on Carvana from $365.00 to $370.00 and gave the stock an “in-line” rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. lifted their target price on Carvana from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, September 17th. Piper Sandler lifted their target price on Carvana from $340.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Finally, Oppenheimer upgraded Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 target price on the stock in a report on Friday, July 25th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and an average target price of $387.88.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CVNA. Hilltop National Bank acquired a new position in Carvana in the 2nd quarter worth about $25,000. Brooklyn Investment Group boosted its stake in shares of Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after acquiring an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Carvana during the 1st quarter worth about $33,000. SJS Investment Consulting Inc. boosted its stake in shares of Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 96 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Carvana during the 2nd quarter worth about $38,000. 56.71% of the stock is owned by institutional investors and hedge funds.

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.