Carvana Co. (NYSE:CVNA) Major Shareholder Sells $4,151,500.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 50,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $83.03, for a total transaction of $4,151,500.00. Following the sale, the insider now directly owns 3,112,500 shares of the company’s stock, valued at $258,430,875. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Carvana Trading Up 4.4 %

CVNA opened at $121.67 on Friday. Carvana Co. has a 1 year low of $6.92 and a 1 year high of $124.20. The stock has a fifty day moving average price of $81.81 and a 200 day moving average price of $55.88. The stock has a market cap of $24.57 billion, a price-to-earnings ratio of 53.36 and a beta of 3.28.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) 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 analysts’ expectations of $2.56 billion. The business’s revenue was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.97) EPS. As a group, sell-side analysts forecast that Carvana Co. will post -3.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. bought a new stake in Carvana in the fourth quarter worth $29,000. Hanseatic Management Services Inc. acquired a new stake in shares of Carvana in the third quarter worth about $34,000. Parallel Advisors LLC boosted its stake in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after acquiring an additional 194 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in shares of Carvana by 1,225.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock valued at $50,000 after acquiring an additional 1,103 shares during the last quarter. Finally, Tidemark LLC bought a new position in shares of Carvana in the 4th quarter valued at approximately $50,000. Institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

CVNA has been the subject of a number of recent research reports. TD Cowen increased their price objective on Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Royal Bank of Canada upped their target price on Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a report on Thursday. JMP Securities lifted their price target on Carvana from $80.00 to $135.00 and gave the stock a “market outperform” rating in a research note on Friday. Wells Fargo & Company upped their price objective on shares of Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Carvana in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $73.44.

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.