Carvana Co. (NYSE:CVNA) CEO Sells $3,495,900.00 in Stock

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $349.59, for a total transaction of $3,495,900.00. Following the transaction, the chief executive officer owned 641,440 shares in the company, valued at $224,241,009.60. This represents a 1.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Carvana Price Performance

CVNA opened at $347.25 on Friday. Carvana Co. has a 1 year low of $118.50 and a 1 year high of $364.00. The stock has a 50-day moving average price of $324.19 and a 200-day moving average price of $257.42. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70. The firm has a market cap of $74.36 billion, a PE ratio of 121.84, a P/E/G ratio of 1.36 and a beta of 3.59.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.75 by $0.76. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the prior year, the firm earned $0.23 EPS. The business’s revenue for the quarter was up 38.3% compared to the same quarter last year. Sell-side analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Institutional Trading of Carvana

Several hedge funds and other institutional investors have recently bought and sold shares of CVNA. Brooklyn Investment Group grew its position in shares of Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after buying an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Carvana during the 1st quarter worth $33,000. SJS Investment Consulting Inc. grew its position in shares of Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after buying an additional 96 shares in the last quarter. Transce3nd LLC bought a new position in shares of Carvana during the 4th quarter worth $48,000. Finally, Geneos Wealth Management Inc. grew its position in shares of Carvana by 251.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after buying an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of Carvana from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. decreased their price objective on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. JMP Securities set a $440.00 price objective on shares of Carvana and gave the stock a “market outperform” rating in a research note on Wednesday, July 2nd. Morgan Stanley upped their target price on shares of Carvana from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Finally, Bank of America upped their target price on shares of Carvana from $325.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $309.44.

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.