Carvana Co. (NYSE:CVNA) CEO Sells $3,129,600.00 in Stock

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $312.96, for a total value of $3,129,600.00. Following the completion of the sale, the chief executive officer now owns 731,440 shares of the company's stock, valued at $228,911,462.40. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Carvana Stock Performance

CVNA traded up $2.09 during trading on Tuesday, reaching $322.17. 930,852 shares of the company were exchanged, compared to its average volume of 3,935,076. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97. The stock has a market cap of $68.99 billion, a P/E ratio of 113.25, a PEG ratio of 1.25 and a beta of 3.65. Carvana Co. has a 52 week low of $111.55 and a 52 week high of $351.43. The firm has a 50 day moving average of $285.11 and a 200 day moving average of $242.97.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $0.75 by $0.76. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The company's quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 earnings per share. On average, sell-side analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Carvana

Several large investors have recently made changes to their positions in CVNA. Price T Rowe Associates Inc. MD raised its stake in shares of Carvana by 13.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock valued at $3,125,749,000 after purchasing an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. increased its stake in Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock valued at $2,620,785,000 after buying an additional 1,109,476 shares during the period. Lingotto Investment Management LLP raised its position in shares of Carvana by 1.5% during the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock worth $810,827,000 after buying an additional 57,215 shares in the last quarter. Durable Capital Partners LP lifted its stake in shares of Carvana by 6.3% in the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock worth $440,932,000 after acquiring an additional 129,246 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Carvana by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock valued at $381,592,000 after acquiring an additional 75,250 shares during the period. Institutional investors and hedge funds own 56.71% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CVNA. Wells Fargo & Company raised their price objective on Carvana from $290.00 to $310.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. JMP Securities cut their target price on shares of Carvana from $340.00 to $275.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 9th. Royal Bank Of Canada increased their price target on Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Piper Sandler set a $340.00 price objective on Carvana and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $340.00 target price on shares of Carvana in a report on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $284.18.

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.