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 Carvana stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $169.88, for a total value of $16,988,000.00. Following the completion of the transaction, the insider now directly owns 39,258,131 shares in the company, valued at $6,669,171,294.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own more than 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 Monday, September 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $171.68, for a total value of $17,168,000.00.
• On Wednesday, September 25th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $170.51, for a total value of $17,051,000.00.
• On Monday, September 23rd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $172.66, for a total value of $17,266,000.00.
• On Thursday, September 19th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $168.46, for a total value of $16,846,000.00.
• On Tuesday, September 17th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00.
• On Monday, September 9th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The shares were sold at an average price of $135.73, for a total value of $10,179,750.00.
• On Thursday, September 5th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The stock was sold at an average price of $141.72, for a total value of $10,629,000.00.
• On Friday, August 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $149.16, for a total value of $14,916,000.00.
• On Wednesday, August 28th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $155.69, for a total value of $15,569,000.00.
• On Monday, August 26th, Ernest C. Garcia II sold 9,186 shares of Carvana stock. The stock was sold at an average price of $156.95, for a total value of $1,441,742.70.

Carvana Trading Up 0.8 %

Shares of NYSE:CVNA opened at $177.13 on Thursday. The company has a market cap of $35.88 billion, a P/E ratio of 77.69 and a beta of 3.43. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. Carvana Co. has a 1 year low of $25.09 and a 1 year high of $178.40. The stock’s fifty day moving average price is $149.60 and its 200-day moving average price is $120.60.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. Sell-side analysts expect that Carvana Co. will post 0.27 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on CVNA. JMP Securities reaffirmed a “market outperform” rating and issued a $200.00 price target on shares of Carvana in a research note on Monday, September 9th. Morgan Stanley upped their price target on Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada raised Carvana to a “sector perform” rating and boosted their target price for the stock from $166.00 to $170.00 in a report on Monday, August 19th. Needham & Company LLC boosted their target price on Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, TD Cowen boosted their target price on Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $155.12.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CVNA. Vanguard Group Inc. increased its position in Carvana by 2.7% during the first quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock valued at $904,642,000 after acquiring an additional 266,972 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Carvana by 39.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after acquiring an additional 2,112,463 shares during the last quarter. Lingotto Investment Management LLP increased its position in Carvana by 1.4% during the second quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock valued at $486,143,000 after acquiring an additional 52,833 shares during the last quarter. First Trust Advisors LP increased its position 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 acquiring an additional 216,893 shares during the last quarter. Finally, Goodnow Investment Group LLC increased its position 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 acquiring an additional 23,140 shares during the last quarter. 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.