Carvana Co. (NYSE:CVNA) Major Shareholder Sells $9,522,750.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $126.97, for a total value of $9,522,750.00. Following the sale, the insider now directly owns 787,500 shares of the company’s stock, valued at $99,988,875. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Carvana Stock Down 3.1 %

NYSE CVNA opened at $128.72 on Friday. The stock has a market capitalization of $26.07 billion, a P/E ratio of 56.46 and a beta of 3.29. Carvana Co. has a 52-week low of $23.43 and a 52-week high of $136.92. The firm has a 50-day moving average price of $107.74 and a 200 day moving average price of $78.46.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.35. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.72 billion. On average, equities research analysts expect that Carvana Co. will post -0.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CVNA. Blue Trust Inc. acquired a new position in shares of Carvana during the 4th quarter worth $29,000. Plato Investment Management Ltd acquired a new stake in shares of Carvana in the first quarter valued at about $55,000. Parallel Advisors LLC boosted its holdings in Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after buying an additional 194 shares in the last quarter. Tidemark LLC acquired a new position in Carvana during the fourth quarter worth about $50,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Carvana in the third quarter valued at about $64,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

CVNA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Carvana from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. William Blair reiterated an “outperform” rating on shares of Carvana in a research report on Thursday, May 2nd. Wells Fargo & Company upped their target price on Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Royal Bank of Canada lifted their price target on Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 2nd. Finally, JMP Securities raised their target price on shares of Carvana from $135.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Friday, June 7th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $87.29.

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.