Carvana Co. (NYSE:CVNA) Major Shareholder Sells $16,846,000.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.46, for a total transaction of $16,846,000.00. Following the completion of the transaction, the insider now directly owns 39,858,131 shares in the company, valued at $6,714,500,748.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more 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 23rd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $172.66, for a total transaction of $17,266,000.00.
• 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 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.
• 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 transaction of $1,441,742.70.
• On Friday, July 12th, Ernest C. Garcia II sold 37,500 shares of Carvana stock. The shares were sold at an average price of $136.63, for a total transaction of $5,123,625.00.

Carvana Stock Performance

Carvana stock opened at $169.70 on Thursday. The business has a 50 day moving average of $145.05 and a 200-day moving average of $117.26. 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 $176.33. The company has a market capitalization of $35.12 billion, a P/E ratio of 74.43 and a beta of 3.43.

Carvana (NYSE:CVNA) last released 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. On average, equities research analysts predict that Carvana Co. will post 0.27 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC raised its position in shares of Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after acquiring an additional 144 shares during the last quarter. Great Valley Advisor Group Inc. raised its holdings in Carvana by 1.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock worth $1,333,000 after purchasing an additional 182 shares during the last quarter. Parallel Advisors LLC raised its holdings in Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Carvana by 2.6% in the 2nd quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock worth $1,205,000 after purchasing an additional 241 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in shares of Carvana in the 2nd quarter valued at $32,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVNA has been the subject of several analyst reports. Stephens initiated coverage on Carvana in a report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price objective for the company. Piper Sandler upped their price objective on shares of Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Evercore ISI increased their price objective on shares of Carvana from $142.00 to $157.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. JMP Securities restated a “market outperform” rating and issued a $200.00 target price on shares of Carvana in a research report on Monday, September 9th. Finally, DA Davidson increased their price target on shares of Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $153.88.

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.