Ernest C. Garcia III Sells 18,100 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 18,100 shares of Carvana stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $116.24, for a total transaction of $2,103,944.00. Following the completion of the sale, the chief executive officer now owns 896,449 shares of the company’s stock, valued at approximately $104,203,231.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Carvana Price Performance

Shares of CVNA opened at $121.67 on Friday. The company has a market capitalization of $24.57 billion, a P/E ratio of 53.36 and a beta of 3.28. Carvana Co. has a 1-year low of $6.92 and a 1-year high of $124.20. The firm’s 50 day simple moving average is $81.81 and its 200 day simple moving average is $55.88.

Carvana (NYSE:CVNA) last released its earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate 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 posted ($0.97) earnings per share. On average, equities analysts anticipate that Carvana Co. will post -3.32 earnings per share for the current year.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CVNA. TD Cowen lifted their price objective on shares of Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Jefferies Financial Group upgraded shares of Carvana from an “underperform” rating to a “hold” rating and increased their price target for the company from $30.00 to $85.00 in a research report on Tuesday, March 12th. Wedbush increased their price target on shares of Carvana from $80.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley upped their price objective on shares of Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, February 26th. Finally, Evercore ISI dropped their price objective on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $73.44.

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.