Ernest C. Garcia III Sells 8,138 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 8,138 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $342.12, for a total value of $2,784,172.56. Following the sale, the chief executive officer now owns 770,931 shares in the company, valued at $263,750,913.72. The trade was a 1.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Carvana Stock Performance

Shares of CVNA stock opened at $338.82 on Wednesday. Carvana Co. has a 12-month low of $100.05 and a 12-month high of $351.43. The firm has a market capitalization of $72.55 billion, a price-to-earnings ratio of 215.81 and a beta of 3.65. The business has a 50 day simple moving average of $263.92 and a 200 day simple moving average of $239.67. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period in the prior year, the company posted $0.23 EPS. The business’s revenue for the quarter was up 38.3% compared to the same quarter last year. On average, equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Royal Bank of Canada upped their price objective on Carvana from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Piper Sandler set a $340.00 target price on Carvana and gave the company an “overweight” rating in a report on Thursday, May 22nd. William Blair reaffirmed an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. DA Davidson upped their target price on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Evercore ISI lowered their target price on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, March 11th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.35.

Hedge Funds Weigh In On Carvana

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quent Capital LLC bought a new position in Carvana during the 4th quarter valued at $28,000. Brooklyn Investment Group boosted its stake in Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after purchasing an additional 125 shares in the last quarter. Global Retirement Partners LLC boosted its stake in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Rialto Wealth Management LLC bought a new position in Carvana during the 4th quarter valued at $31,000. Finally, N.E.W. Advisory Services LLC bought a new position in Carvana during the 1st quarter valued at $33,000. 56.71% of the stock is owned by institutional investors.

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.