Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III Sells 9,390 Shares

Carvana Co. (NYSE:CVNAGet Free Report) CEO Ernest C. Garcia III sold 9,390 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $82.83, for a total value of $777,773.70. Following the completion of the transaction, the chief executive officer now owns 861,458 shares of the company’s stock, valued at approximately $71,354,566.14. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Carvana Stock Performance

Shares of CVNA stock opened at $82.38 on Thursday. Carvana Co. has a 52-week low of $6.70 and a 52-week high of $94.04. The company has a market capitalization of $16.63 billion, a PE ratio of 152.56 and a beta of 3.32. The business’s fifty day moving average is $67.73 and its 200 day moving average is $49.57.

Carvana (NYSE:CVNAGet Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the business earned ($0.97) EPS. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, sell-side analysts forecast that Carvana Co. will post -3.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wedbush upped their price objective on Carvana from $40.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, February 20th. JMP Securities increased their price target on Carvana from $60.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Friday, February 23rd. William Blair upgraded Carvana from a “market perform” rating to an “outperform” rating in a research note on Friday, February 23rd. Jefferies Financial Group upgraded Carvana from an “underperform” rating to a “hold” rating and increased their price target for the stock from $30.00 to $85.00 in a research note on Tuesday, March 12th. Finally, Morgan Stanley increased their price target on Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $50.60.

View Our Latest Report on CVNA

Institutional Investors Weigh In On Carvana

Institutional investors and hedge funds have recently made changes to their positions in the business. Morgan Stanley increased its stake in Carvana by 13.8% in the third quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock valued at $619,478,000 after acquiring an additional 1,784,009 shares during the last quarter. Vanguard Group Inc. increased its stake in Carvana by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after acquiring an additional 655,603 shares during the last quarter. Spruce House Investment Management LLC increased its stake in Carvana by 52.7% in the fourth quarter. Spruce House Investment Management LLC now owns 10,000,000 shares of the company’s stock valued at $47,400,000 after acquiring an additional 3,450,000 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Carvana by 3.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,346,602 shares of the company’s stock valued at $283,050,000 after acquiring an additional 165,379 shares during the last quarter. Finally, FMR LLC increased its stake in Carvana by 0.5% in the third quarter. FMR LLC now owns 4,696,510 shares of the company’s stock valued at $197,160,000 after acquiring an additional 24,560 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

(Get Free Report)

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.

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