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 Thursday, June 12th. The stock was sold at an average price of $328.00, for a total transaction of $3,280,000.00. Following the completion of the sale, the chief executive officer now owns 750,000 shares in the company, valued at approximately $246,000,000. This trade represents a 1.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Carvana Stock Performance
Shares of NYSE CVNA traded down $22.24 during midday trading on Friday, hitting $296.71. 6,604,157 shares of the stock traded hands, compared to its average volume of 3,935,991. The firm has a market capitalization of $63.54 billion, a P/E ratio of 188.99 and a beta of 3.65. Carvana Co. has a one year low of $100.05 and a one year high of $351.43. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The firm has a 50-day moving average of $272.91 and a two-hundred day moving average of $240.95.
Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.76. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Carvana's revenue was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 earnings per share. On average, equities analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have commented on CVNA. Stephens reissued an "overweight" rating and issued a $300.00 target price on shares of Carvana in a report on Monday, March 3rd. DA Davidson lifted their price target on Carvana from $220.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Needham & Company LLC restated a "buy" rating and set a $340.00 price objective on shares of Carvana in a research note on Thursday, May 8th. 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 research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. cut their price target on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $280.35.
Check Out Our Latest Research Report on CVNA
Hedge Funds Weigh In On Carvana
Institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in Carvana by 9.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company's stock worth $94,148,000 after purchasing an additional 39,089 shares during the period. Plato Investment Management Ltd raised its stake in shares of Carvana by 135.5% in the fourth quarter. Plato Investment Management Ltd now owns 5,204 shares of the company's stock worth $1,062,000 after buying an additional 2,994 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Carvana by 37.7% during the 4th quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company's stock valued at $97,305,000 after buying an additional 130,942 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Carvana during the 4th quarter valued at about $60,866,000. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of Carvana by 7.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 42,052 shares of the company's stock valued at $8,552,000 after acquiring an additional 2,771 shares during the period. Institutional investors own 56.71% of the company's stock.
About Carvana
(
Get Free Report)
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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