Carvana Co. (NYSE:CVNA) CEO Sells $3,317,400.00 in Stock

Key Points

• Carvana CEO Ernest C. Garcia III sold 10,000 shares of the company's stock for a total of $3,317,400.00, reducing his ownership by 1.61%.
• Carvana's recent stock performance shows an increase in share price, trading at $336.41 after a $4.29 rise, with a market cap of $72.04 billion.
• Institutional investors own approximately 56.71% of Carvana's stock, indicating strong backing from large financial entities.

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 10,000 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $331.74, for a total value of $3,317,400.00. Following the sale, the chief executive officer owned 611,440 shares of the company's stock, valued at $202,839,105.60. The trade was a 1.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Carvana Stock Performance

Shares of CVNA stock traded up $4.29 during midday trading on Monday, hitting $336.41. The company had a trading volume of 2,265,595 shares, compared to its average volume of 2,501,742. The company's 50 day simple moving average is $329.03 and its 200 day simple moving average is $263.90. Carvana Co. has a 52-week low of $118.50 and a 52-week high of $364.00. 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 $72.04 billion, a price-to-earnings ratio of 118.04, a PEG ratio of 1.28 and a beta of 3.59.

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 the consensus estimate of $0.75 by $0.76. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.94 billion. Carvana had a return on equity of 44.86% and a net margin of 2.68%. Carvana's revenue was up 38.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 earnings per share. Research analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carvana

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Warren Street Wealth Advisors LLC lifted its position in Carvana by 2.8% in the 2nd quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company's stock valued at $388,000 after purchasing an additional 31 shares during the last quarter. Yousif Capital Management LLC raised its holdings in shares of Carvana by 4.1% in the 1st quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock worth $265,000 after purchasing an additional 50 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Carvana by 5.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company's stock valued at $256,000 after acquiring an additional 60 shares during the last quarter. Harbour Investments Inc. lifted its holdings in shares of Carvana by 46.5% during the second quarter. Harbour Investments Inc. now owns 208 shares of the company's stock valued at $70,000 after purchasing an additional 66 shares during the last quarter. Finally, Commerce Bank boosted its holdings in shares of Carvana by 1.6% in the first quarter. Commerce Bank now owns 4,446 shares of the company's stock worth $930,000 after buying an additional 69 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CVNA shares. Evercore ISI upped their price target on Carvana from $295.00 to $305.00 and gave the company an "in-line" rating in a research report on Tuesday, June 24th. Oppenheimer raised shares of Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price target on the stock in a research report on Friday. Robert W. Baird boosted their target price on shares of Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Piper Sandler set a $340.00 target price on Carvana and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Finally, Stephens boosted their price objective on shares of Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $318.16.

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.

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