Carvana Co. (NYSE:CVNA) CEO Sells $1,101,501.40 in Stock

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 3,196 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $344.65, for a total transaction of $1,101,501.40. Following the completion of the sale, the chief executive officer now owns 780,000 shares in the company, valued at approximately $268,827,000. This trade represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Carvana Stock Down 0.3%

NYSE:CVNA traded down $1.01 during trading hours on Friday, reaching $342.30. The company had a trading volume of 1,927,710 shares, compared to its average volume of 3,957,488. The business's 50-day simple moving average is $255.91 and its two-hundred day simple moving average is $237.88. Carvana Co. has a twelve month low of $100.05 and a twelve month high of $351.24. The firm has a market cap of $73.30 billion, a price-to-earnings ratio of 217.98 and a beta of 3.61. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the previous year, the business earned $0.23 EPS. The company's quarterly revenue was up 38.3% on a year-over-year basis. On average, equities analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

CVNA has been the subject of a number of research analyst reports. Wedbush upgraded shares of Carvana to a "hold" rating in a research report on Thursday, May 8th. Robert W. Baird upped their price target on Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Morgan Stanley boosted their target price on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Piper Sandler set a $340.00 price objective on Carvana and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Finally, DA Davidson boosted their price target on Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $275.65.

Institutional Investors Weigh In On Carvana

Several hedge funds and other institutional investors have recently modified their holdings of CVNA. Price T Rowe Associates Inc. MD increased its holdings in shares of Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock worth $3,125,749,000 after buying an additional 1,823,218 shares during the period. Vanguard Group Inc. raised its stake in Carvana by 9.7% during the first 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 last quarter. Lingotto Investment Management LLP raised its holdings in Carvana by 1.5% in the fourth 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 during the last quarter. Durable Capital Partners LP lifted its holdings in shares of Carvana by 6.3% during the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock valued at $440,932,000 after purchasing an additional 129,246 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Carvana by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock worth $381,592,000 after purchasing an additional 75,250 shares during the last quarter. 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.