Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III Sells 3,756 Shares

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 3,756 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $350.62, for a total transaction of $1,316,928.72. Following the sale, the chief executive officer directly owned 684,562 shares in the company, valued at $240,021,128.44. This trade represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Carvana Stock Performance

NYSE CVNA traded down $11.42 on Tuesday, reaching $345.90. 2,831,081 shares of the stock were exchanged, compared to its average volume of 3,859,151. Carvana Co. has a one year low of $118.50 and a one year high of $363.38. The firm has a market capitalization of $74.07 billion, a PE ratio of 121.37, a PEG ratio of 1.39 and a beta of 3.59. The company's 50-day simple moving average is $310.23 and its two-hundred day simple moving average is $250.09. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97.

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

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in Carvana by 9.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company's stock valued at $94,148,000 after acquiring an additional 39,089 shares in the last quarter. J.Safra Asset Management Corp grew its holdings in Carvana by 140.8% in the first quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock valued at $709,000 after purchasing an additional 1,982 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Carvana in the fourth quarter valued at $60,866,000. Worldquant Millennium Advisors LLC acquired a new stake in shares of Carvana during the fourth quarter valued at $51,091,000. Finally, Farther Finance Advisors LLC boosted its stake in Carvana by 333.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock worth $740,000 after buying an additional 2,678 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wedbush upgraded shares of Carvana to a "hold" rating in a research note on Thursday, May 8th. Citigroup increased their target price on shares of Carvana from $325.00 to $415.00 and gave the stock a "buy" rating in a research report on Tuesday. Stephens increased their price target on shares of Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a research report on Monday. Wells Fargo & Company increased their price objective on shares of Carvana from $290.00 to $310.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Finally, Bank of America increased their price objective on shares of Carvana from $325.00 to $375.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $303.59.

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.

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