Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III Sells 10,000 Shares

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $346.15, for a total value of $3,461,500.00. Following the completion of the sale, the chief executive officer directly owned 686,440 shares in the company, valued at approximately $237,611,206. This trade represents a 1.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Carvana Trading Down 3.2%

Shares of CVNA stock traded down $11.42 during trading hours on Tuesday, reaching $345.90. The company had a trading volume of 2,831,081 shares, compared to its average volume of 3,859,151. The company has a 50 day moving average of $310.23 and a 200 day moving average of $250.09. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70. The firm has a market cap of $74.07 billion, a price-to-earnings ratio of 121.37, a P/E/G ratio of 1.39 and a beta of 3.59. Carvana Co. has a 1-year low of $118.50 and a 1-year high of $363.38.

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

Analyst Ratings Changes

CVNA has been the topic of several analyst reports. Bank of America raised their target price on Carvana from $325.00 to $375.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Morgan Stanley lifted their price target on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Needham & Company LLC reiterated a "buy" rating and set a $340.00 price target on shares of Carvana in a research report on Thursday, May 8th. Robert W. Baird lifted their price target on Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. lowered their price target on Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $303.59.

Hedge Funds Weigh In On Carvana

A number of large investors have recently added to or reduced their stakes in the company. MRA Advisory Group acquired a new stake in Carvana during the second quarter worth approximately $707,000. Amanah Holdings Trust bought a new stake in shares of Carvana during the second quarter worth $30,703,000. AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of Carvana during the first quarter worth $1,448,000. Swedbank AB lifted its holdings in shares of Carvana by 29.2% during the first quarter. Swedbank AB now owns 69,013 shares of the company's stock worth $14,429,000 after purchasing an additional 15,600 shares during the period. Finally, Strs Ohio acquired a new position in shares of Carvana during the first quarter worth $852,000. Institutional investors own 56.71% of the company's stock.

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.

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