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 stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $171.68, for a total value of $17,168,000.00. Following the completion of the sale, the insider now directly owns 39,258,131 shares of the company’s stock, valued at approximately $6,739,835,930.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Wednesday, October 2nd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $174.64, for a total transaction of $17,464,000.00.
• On Friday, September 27th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $169.88, for a total transaction of $16,988,000.00.
• On Wednesday, September 25th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $170.51, for a total transaction 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 transaction of $17,266,000.00.
• On Thursday, September 19th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was 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 stock was 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 shares were sold at an average price of $141.72, for a total transaction of $10,629,000.00.
• On Friday, August 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $149.16, for a total transaction 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 transaction of $15,569,000.00.

Carvana Trading Down 0.1 %

Shares of CVNA stock opened at $176.69 on Friday. Carvana Co. has a 12-month low of $25.09 and a 12-month high of $179.93. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. The company has a 50 day moving average of $149.60 and a 200-day moving average of $120.60. The firm has a market cap of $35.79 billion, a P/E ratio of 77.50 and a beta of 3.43.

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

Analysts Set New Price Targets

CVNA has been the topic of a number of research reports. Royal Bank of Canada raised Carvana to a “sector perform” rating and upped their price target for the stock from $166.00 to $170.00 in a research note on Monday, August 19th. Citigroup increased their target price on Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday. JMP Securities restated a “market outperform” rating and set a $200.00 price target on shares of Carvana in a research note on Monday, September 9th. Morgan Stanley upped their price objective on shares of Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC lifted their price objective on shares of Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Carvana has an average rating of “Hold” and a consensus target price of $157.33.

Institutional Investors Weigh In On Carvana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVNA. Ridgewood Investments LLC purchased a new position in shares of Carvana in the second quarter worth about $32,000. Parallel Advisors LLC lifted its stake in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after buying an additional 194 shares in the last quarter. Summit Securities Group LLC boosted its holdings in Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after buying an additional 3,300 shares during the period. Fifth Third Bancorp grew its stake in Carvana by 450.8% in the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after buying an additional 275 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Carvana during the 2nd quarter valued at $51,000. 56.71% of the stock is currently owned by institutional investors.

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.