Carvana Co. (NYSE:CVNA) CEO Sells $1,013,548.60 in Stock

Key Points

• Carvana CEO Ernest C. Garcia III sold 2,746 shares of the company's stock for over $1 million, reducing his ownership by 0.47% to approximately 581,440 shares.
• Carvana's stock has experienced significant volatility, trading down to $351.43 recently, despite having a 1-year high of $413.33 and reflecting a market capitalization of $75.26 billion.
• The company reported earnings per share (EPS) of $1.28 for the last quarter, exceeding analysts' expectations, with revenue growth of 41.9% year-over-year.

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 2,746 shares of Carvana stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $369.10, for a total transaction of $1,013,548.60. Following the transaction, the chief executive officer directly owned 581,440 shares of the company's stock, valued at approximately $214,609,504. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Carvana Stock Performance

Shares of NYSE:CVNA traded down $9.23 on Tuesday, hitting $351.43. 3,348,974 shares of the company were exchanged, compared to its average volume of 4,264,759. The firm has a market capitalization of $75.26 billion, a P/E ratio of 88.08, a price-to-earnings-growth ratio of 1.25 and a beta of 3.57. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. Carvana Co. has a 1-year low of $124.39 and a 1-year high of $413.33. The stock's 50 day moving average price is $334.70 and its 200 day moving average price is $268.97.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.19. The company had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%. The firm's revenue was up 41.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) EPS. Sell-side analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Institutional Investors Weigh In On Carvana

Large investors have recently bought and sold shares of the company. J.Safra Asset Management Corp raised its holdings in shares of Carvana by 140.8% during the first quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock worth $709,000 after purchasing an additional 1,982 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new position in shares of Carvana during the fourth quarter worth $51,091,000. Farther Finance Advisors LLC raised its holdings in shares of Carvana by 333.1% during the first quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock worth $740,000 after purchasing an additional 2,678 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Carvana during the fourth quarter worth $36,527,000. Finally, Brucke Financial Inc. purchased a new position in shares of Carvana during the fourth quarter worth $415,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Wall Street Analysts Forecast Growth

CVNA has been the topic of a number of research analyst reports. Needham & Company LLC set a $500.00 target price on shares of Carvana and gave the stock a "buy" rating in a research note on Thursday, July 31st. Bank of America increased their price objective on shares of Carvana from $375.00 to $425.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Gordon Haskett assumed coverage on shares of Carvana in a research note on Monday, July 14th. They set a "hold" rating and a $329.00 price objective on the stock. Stephens increased their price objective on shares of Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Finally, Evercore ISI increased their price objective on shares of Carvana from $295.00 to $305.00 and gave the company an "in-line" rating in a research note on Tuesday, June 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $379.65.

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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