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

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 10,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $308.55, for a total transaction of $3,085,500.00. Following the completion of the transaction, the chief executive officer now directly owns 810,000 shares of the company's stock, valued at $249,925,500. This trade represents a 1.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Carvana Price Performance

Shares of CVNA traded up $3.83 during mid-day trading on Monday, hitting $330.99. 3,633,793 shares of the company traded hands, compared to its average volume of 3,957,033. Carvana Co. has a one year low of $97.55 and a one year high of $332.00. 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 has a 50-day moving average of $247.69 and a 200 day moving average of $235.72. The stock has a market capitalization of $70.88 billion, a price-to-earnings ratio of 210.82 and a beta of 3.61.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.75 by $0.76. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. During the same period 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 analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carvana

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brooklyn Investment Group boosted its stake in Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after acquiring an additional 125 shares during the last quarter. Quent Capital LLC bought a new position in Carvana in the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC boosted its stake in Carvana by 109.9% in the fourth 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 last quarter. Rialto Wealth Management LLC bought a new position in Carvana in the fourth quarter valued at approximately $31,000. Finally, N.E.W. Advisory Services LLC bought a new position in Carvana in the first quarter valued at approximately $33,000. 56.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CVNA. Wells Fargo & Company increased their price target on shares of Carvana from $290.00 to $310.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Evercore ISI dropped their price target on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a research report on Tuesday, March 11th. Stephens reaffirmed an "overweight" rating and set a $300.00 price objective on shares of Carvana in a report on Monday, March 3rd. Royal Bank of Canada raised their price objective on shares of Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, JMP Securities dropped their price objective on shares of Carvana from $340.00 to $275.00 and set a "market outperform" rating for the company in a report on Wednesday, April 9th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $275.65.

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.