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 business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $192.55, for a total value of $19,255,000.00. Following the completion of the sale, the insider now directly owns 38,258,131 shares of the company’s stock, valued at $7,366,603,124.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, October 14th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $190.47, for a total value of $19,047,000.00.
• On Wednesday, October 9th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $190.70, for a total value of $19,070,000.00.
• On Monday, October 7th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $180.49, for a total value of $18,049,000.00.
• On Friday, October 4th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $179.06, for a total value of $17,906,000.00.
• 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 value of $17,464,000.00.
• 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 Friday, September 27th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $169.88, for a total value of $16,988,000.00.
• 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.

Carvana Stock Performance

Shares of NYSE:CVNA traded up $2.89 during trading on Tuesday, hitting $191.98. 3,618,282 shares of the company were exchanged, compared to its average volume of 4,908,360. The company has a market cap of $38.89 billion, a PE ratio of 84.20 and a beta of 3.44. The stock has a 50 day moving average of $159.20 and a 200 day moving average of $127.21. Carvana Co. has a 52-week low of $25.09 and a 52-week high of $194.75. 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 (NYSE:CVNA) last posted its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.23 billion. As a group, equities research analysts predict that Carvana Co. will post 0.29 EPS for the current year.

Institutional Investors Weigh In On Carvana

Several institutional investors have recently made changes to their positions in the stock. Sugarloaf Wealth Management LLC purchased a new stake in shares of Carvana in the third quarter worth $32,000. Ridgewood Investments LLC purchased a new stake in shares of Carvana in the second quarter worth $32,000. Summit Securities Group LLC raised its position in shares of Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after buying an additional 3,300 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after buying an additional 275 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Carvana in the second quarter worth $51,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CVNA. Bank of America boosted their target price on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI reaffirmed an “in-line” rating and issued a $178.00 target price on shares of Carvana in a report on Thursday, September 26th. Piper Sandler upped their target price on Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada raised Carvana to a “sector perform” rating and upped their target price for the company from $166.00 to $170.00 in a report on Monday, August 19th. Finally, Wells Fargo & Company raised Carvana from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $77.00 to $175.00 in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $171.76.

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.