Ernest C. Garcia III Sells 10,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 10,000 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $214.70, for a total transaction of $2,147,000.00. Following the completion of the transaction, the chief executive officer now owns 736,440 shares of the company's stock, valued at approximately $158,113,668. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Carvana Stock Performance

Shares of Carvana stock traded up $2.09 during midday trading on Tuesday, hitting $322.17. The company had a trading volume of 930,852 shares, compared to its average volume of 3,935,076. The business's 50 day simple moving average is $285.11 and its two-hundred day simple moving average is $242.97. Carvana Co. has a 1-year low of $111.55 and a 1-year high of $351.43. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70. The stock has a market cap of $68.99 billion, a PE ratio of 113.25, a P/E/G ratio of 1.25 and a beta of 3.65.

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

Analyst Ratings Changes

Several analysts have issued reports on CVNA shares. Wall Street Zen downgraded shares of Carvana from a "buy" rating to a "hold" rating in a research note on Saturday. JPMorgan Chase & Co. dropped their target price on Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Morgan Stanley boosted their price objective on shares of Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Royal Bank Of Canada lifted their target price 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. Finally, Citigroup upped their price target on shares of Carvana from $280.00 to $325.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Carvana presently has an average rating of "Moderate Buy" and a consensus price target of $284.18.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Brooklyn Investment Group boosted its stake in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after buying an additional 125 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $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 valued at about $31,000. N.E.W. Advisory Services LLC bought a new stake in Carvana in the first quarter valued at about $33,000. Finally, Venturi Wealth Management LLC raised its position in Carvana by 79.2% in the fourth quarter. Venturi Wealth Management LLC now owns 224 shares of the company's stock worth $46,000 after purchasing an additional 99 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.