Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III Sells 6,804 Shares

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 6,804 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $338.93, for a total value of $2,306,079.72. Following the completion of the sale, the chief executive officer now directly owns 781,598 shares of the company's stock, valued at approximately $264,907,010.14. The trade was a 0.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Carvana Stock Performance

Shares of CVNA traded down $1.15 during midday trading on Friday, reaching $342.16. 1,850,292 shares of the stock were exchanged, compared to its average volume of 3,957,285. The stock's 50 day simple moving average is $255.91 and its 200 day simple moving average is $237.88. The company has a market cap of $73.27 billion, a P/E ratio of 217.55 and a beta of 3.61. Carvana Co. has a twelve month low of $100.05 and a twelve month high of $351.24. 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 issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share 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 analysts' expectations of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business's revenue was up 38.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.23 EPS. On average, sell-side analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Institutional Investors Weigh In On Carvana

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quent Capital LLC acquired a new stake in Carvana during the fourth quarter worth approximately $28,000. Brooklyn Investment Group raised its holdings in Carvana by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after acquiring an additional 125 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after acquiring an additional 78 shares during the period. Rialto Wealth Management LLC acquired a new stake in shares of Carvana during the 4th quarter worth $31,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Carvana in the first quarter worth $33,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on CVNA shares. Wedbush raised shares of Carvana to a "hold" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. dropped their target price on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. William Blair reiterated an "outperform" rating on shares of Carvana in a research note on Thursday, February 20th. Stephens reissued an "overweight" rating and set a $300.00 price target on shares of Carvana in a research report on Monday, March 3rd. Finally, JMP Securities dropped their price objective on Carvana from $340.00 to $275.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $275.65.

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.