Ernest C. Garcia II Sells 100,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $352.40, for a total transaction of $35,240,000.00. Following the transaction, the insider directly owned 35,892,792 shares in the company, valued at $12,648,619,900.80. The trade was a 0.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Ernest C. Garcia II also recently made the following trade(s):

• On Tuesday, July 15th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $343.97, for a total transaction of $17,198,500.00.
• On Monday, July 14th, Ernest C. Garcia II sold 98,528 shares of Carvana stock. The stock was sold at an average price of $349.77, for a total transaction of $34,462,138.56.
• On Friday, July 11th, Ernest C. Garcia II sold 96,026 shares of Carvana stock. The stock was sold at an average price of $348.75, for a total transaction of $33,489,067.50.
• On Thursday, July 10th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $352.36, for a total transaction of $35,236,000.00.
• On Tuesday, July 8th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $353.76, for a total transaction of $35,376,000.00.
• On Wednesday, July 2nd, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $340.07, for a total transaction of $17,003,500.00.
• On Monday, June 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $327.07, for a total transaction of $16,353,500.00.
• On Wednesday, June 25th, Ernest C. Garcia II sold 4,971 shares of Carvana stock. The shares were sold at an average price of $325.15, for a total transaction of $1,616,320.65.
• On Tuesday, June 24th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $325.81, for a total transaction of $16,290,500.00.
• On Wednesday, June 11th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $337.46, for a total transaction of $16,873,000.00.

Carvana Stock Performance

Shares of CVNA opened at $347.25 on Friday. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97. The stock has a market cap of $74.36 billion, a P/E ratio of 121.84, a PEG ratio of 1.35 and a beta of 3.59. The company has a 50-day moving average of $324.19 and a two-hundred day moving average of $257.05. Carvana Co. has a 12-month low of $118.50 and a 12-month high of $364.00.

Carvana (NYSE:CVNA) last announced its earnings results 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. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The firm’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 earnings per share. As a group, research analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on CVNA shares. JMP Securities set a $440.00 target price on shares of Carvana and gave the company a “market outperform” rating in a report on Wednesday, July 2nd. Wedbush raised shares of Carvana to a “hold” rating in a report on Thursday, May 8th. Bank of America lifted their target price on shares of Carvana from $325.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Evercore ISI raised their price objective on shares of Carvana from $295.00 to $305.00 and gave the company an “in-line” rating in a research note on Tuesday, June 24th. Finally, Royal Bank Of Canada raised their price objective on shares of Carvana from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Carvana presently has an average rating of “Moderate Buy” and a consensus target price of $309.44.

Hedge Funds Weigh In On Carvana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVNA. Brooklyn Investment Group raised its position in shares of Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after buying an additional 125 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Carvana in the first quarter valued at approximately $33,000. SJS Investment Consulting Inc. raised its position in shares of Carvana by 960.0% in the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 96 shares during the last quarter. Transce3nd LLC acquired a new position in shares of Carvana in the fourth quarter valued at approximately $48,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Carvana by 251.4% in the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock valued at $53,000 after buying an additional 181 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.