Carvana Co. (NYSE:CVNA) CEO Sells $1,553,339.77 in Stock

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 4,561 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $340.57, for a total transaction of $1,553,339.77. Following the transaction, the chief executive officer directly owned 694,159 shares in the company, valued at $236,409,730.63. This trade represents a 0.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Carvana Stock Performance

Carvana stock traded up $5.12 during mid-day trading on Thursday, reaching $348.51. 1,542,889 shares of the company's stock were exchanged, compared to its average volume of 3,850,894. The business's fifty day simple moving average is $301.34 and its 200 day simple moving average is $246.91. The company has a quick ratio of 2.70, a current ratio of 3.81 and a debt-to-equity ratio of 2.97. Carvana Co. has a one year low of $118.50 and a one year high of $351.43. The firm has a market capitalization of $74.63 billion, a PE ratio of 122.28, a P/E/G ratio of 1.32 and a beta of 3.59.

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

Institutional Trading of Carvana

Several hedge funds have recently added to or reduced their stakes in CVNA. IFP Advisors Inc raised its holdings in shares of Carvana by 21.4% in the 4th quarter. IFP Advisors Inc now owns 550 shares of the company's stock worth $112,000 after purchasing an additional 97 shares during the period. Oppenheimer & Co. Inc. increased its position in Carvana by 19.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 2,289 shares of the company's stock worth $465,000 after buying an additional 374 shares during the last quarter. Metis Global Partners LLC bought a new stake in shares of Carvana in the fourth quarter valued at $321,000. Smartleaf Asset Management LLC lifted its position in shares of Carvana by 80.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 576 shares of the company's stock valued at $121,000 after buying an additional 256 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in shares of Carvana by 265.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,697 shares of the company's stock worth $345,000 after acquiring an additional 1,233 shares during the period. Institutional investors own 56.71% of the company's stock.

Analyst Ratings Changes

CVNA has been the topic of several recent research reports. Morgan Stanley increased their price target on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Wells Fargo & Company increased their target price on Carvana from $290.00 to $310.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Royal Bank Of Canada boosted their price target on shares of Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Wall Street Zen lowered shares of Carvana from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, Citigroup reiterated an "outperform" rating on shares of Carvana in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $293.88.

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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