Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 5,448 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $339.25, for a total value of $1,848,234.00. Following the transaction, the chief executive officer now directly owns 760,000 shares of the company's stock, valued at approximately $257,830,000. The trade was a 0.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Carvana Trading Down 7.0%
Shares of NYSE CVNA traded down $22.24 during midday trading on Friday, hitting $296.71. The company's stock had a trading volume of 6,604,157 shares, compared to its average volume of 3,935,991. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The business's 50 day moving average is $272.91 and its two-hundred day moving average is $240.95. Carvana Co. has a 12-month low of $100.05 and a 12-month high of $351.43. The firm has a market cap of $63.54 billion, a P/E ratio of 188.99 and a beta of 3.65.
Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. During the same quarter in the prior year, the firm earned $0.23 earnings per share. Carvana's revenue was up 38.3% compared to the same quarter last year. As a group, equities research analysts expect that Carvana Co. will post 2.85 EPS for the current year.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on CVNA. JPMorgan Chase & Co. dropped their price target on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Wells Fargo & Company increased their price target on Carvana from $290.00 to $310.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Piper Sandler set a $340.00 price target on Carvana and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Stephens reissued an "overweight" rating and set a $300.00 price target on shares of Carvana in a research note on Monday, March 3rd. Finally, Wedbush raised Carvana to a "hold" rating in a research note on Thursday, May 8th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, Carvana currently has a consensus rating of "Moderate Buy" and an average target price of $280.35.
View Our Latest Research Report on CVNA
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in 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 purchasing an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. grew its stake in Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock worth $2,620,785,000 after purchasing an additional 1,109,476 shares in the last quarter. Lingotto Investment Management LLP grew its stake 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 purchasing an additional 57,215 shares in the last quarter. Durable Capital Partners LP grew its stake in Carvana by 6.3% in the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock worth $440,932,000 after purchasing an additional 129,246 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Carvana by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock valued at $381,592,000 after acquiring an additional 75,250 shares in the last quarter. Institutional investors own 56.71% of the company's stock.
About Carvana
(
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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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