Ernest C. Garcia II Sells 75,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $125.21, for a total transaction of $9,390,750.00. Following the completion of the transaction, the insider now owns 1,940,814 shares in the company, valued at approximately $243,009,320.94. The sale was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, July 12th, Ernest C. Garcia II sold 37,500 shares of Carvana stock. The stock was sold at an average price of $136.63, for a total transaction of $5,123,625.00.

Carvana Trading Up 6.9 %

CVNA stock traded up $8.62 during midday trading on Friday, reaching $132.72. 4,197,976 shares of the company’s stock traded hands, compared to its average volume of 5,473,433. Carvana Co. has a 52-week low of $25.09 and a 52-week high of $147.25. The stock has a market cap of $26.89 billion, a P/E ratio of 58.27 and a beta of 3.37. The stock’s 50-day moving average is $118.17 and its 200 day moving average is $88.48.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.72 billion. As a group, research analysts expect that Carvana Co. will post -0.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CVNA shares. Wedbush reissued a “neutral” rating and set a $120.00 price target on shares of Carvana in a research report on Wednesday, June 26th. BTIG Research assumed coverage on Carvana in a report on Friday, July 12th. They issued a “buy” rating and a $155.00 target price for the company. Needham & Company LLC raised Carvana from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Wednesday, July 10th. Royal Bank of Canada lifted their price objective on Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a report on Thursday, May 2nd. Finally, Robert W. Baird boosted their target price on Carvana from $65.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Carvana currently has an average rating of “Hold” and an average target price of $105.14.

Institutional Trading of Carvana

A number of hedge funds and other institutional investors have recently bought and sold shares of CVNA. Vanguard Group Inc. lifted its position in shares of Carvana by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock valued at $904,642,000 after buying an additional 266,972 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Carvana by 39.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after acquiring an additional 2,112,463 shares during the period. First Trust Advisors LP lifted its holdings in Carvana by 17.1% during the fourth quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock valued at $78,560,000 after purchasing an additional 216,893 shares in the last quarter. Goodnow Investment Group LLC lifted its holdings in Carvana by 1.6% during the fourth quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock valued at $77,532,000 after purchasing an additional 23,140 shares in the last quarter. Finally, Steadview Capital Management LLC boosted its position in shares of Carvana by 15.6% in the fourth quarter. Steadview Capital Management LLC now owns 876,905 shares of the company’s stock worth $46,423,000 after purchasing an additional 118,500 shares during the period. Hedge funds and other institutional investors 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.