Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 10,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $325.28, for a total transaction of $3,252,800.00. Following the sale, the chief executive officer now owns 790,000 shares of the company's stock, valued at approximately $256,971,200. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Carvana Trading Down 0.6%
CVNA traded down $2.06 on Thursday, reaching $343.58. 3,930,719 shares of the company traded hands, compared to its average volume of 3,963,381. The company has a market cap of $73.58 billion, a P/E ratio of 218.84 and a beta of 3.61. The firm has a fifty day simple moving average of $253.22 and a two-hundred day simple moving average of $237.20. Carvana Co. has a one year low of $100.05 and a one year high of $348.47. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82.
Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, beating 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 firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the previous year, the company posted $0.23 earnings per share. The firm's quarterly revenue was up 38.3% on a year-over-year basis. As a group, equities research analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.
Wall Street Analyst Weigh In
CVNA has been the subject of a number of recent analyst reports. Piper Sandler set a $340.00 price target on Carvana and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Robert W. Baird upped their target price on shares of Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. reduced their price target on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Royal Bank of Canada upped their target price 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, Needham & Company LLC reaffirmed a "buy" rating and issued a $340.00 target price on shares of Carvana in a report 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 data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $275.65.
Get Our Latest Stock Report on Carvana
Institutional Trading of Carvana
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio purchased a new stake in shares of Carvana in the 1st quarter valued at $852,000. Geneos Wealth Management Inc. boosted its stake in Carvana by 251.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock worth $53,000 after purchasing an additional 181 shares during the last quarter. IFM Investors Pty Ltd grew its stake in Carvana by 0.6% during the 1st quarter. IFM Investors Pty Ltd now owns 21,061 shares of the company's stock valued at $4,403,000 after acquiring an additional 135 shares in the last quarter. Bayforest Capital Ltd increased its stake in shares of Carvana by 41.5% in the 1st quarter. Bayforest Capital Ltd now owns 1,773 shares of the company's stock worth $371,000 after acquiring an additional 520 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Carvana by 27.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 529,596 shares of the company's stock valued at $110,728,000 after acquiring an additional 114,526 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.
Carvana Company Profile
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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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