Carvana Co. (NYSE:CVNA) CEO Sells $3,352,700.00 in Stock

Key Points

• CEO Ernest C. Garcia III of Carvana sold 10,000 shares of the company, totaling $3,352,700, resulting in a 1.65% decrease in his ownership.
• Carvana reported a quarterly earnings per share of $1.28, exceeding estimates by $0.19, with revenue up 41.9% year-over-year.
• Wall Street analysts have shown confidence in Carvana, with the consensus price target rising to $357.37 and several analysts upgrading their ratings to "buy."

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 10,000 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $335.27, for a total transaction of $3,352,700.00. Following the completion of the sale, the chief executive officer directly owned 596,440 shares of the company's stock, valued at approximately $199,968,438.80. This trade represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Carvana Stock Performance

NYSE CVNA traded down $21.78 during mid-day trading on Friday, reaching $368.39. 5,040,022 shares of the stock were exchanged, compared to its average volume of 4,274,298. The business's 50 day moving average is $332.32 and its 200-day moving average is $266.23. Carvana Co. has a 1 year low of $118.50 and a 1 year high of $413.33. The company has a market capitalization of $78.89 billion, a P/E ratio of 92.33, a P/E/G ratio of 1.26 and a beta of 3.59. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.19. The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 49.19%. The company's revenue for the quarter was up 41.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) EPS. On average, equities research analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Carvana

Hedge funds and other institutional investors have recently bought and sold shares of the company. J.Safra Asset Management Corp boosted its position in shares of Carvana by 140.8% during the 1st quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock worth $709,000 after purchasing an additional 1,982 shares during the period. Worldquant Millennium Advisors LLC acquired a new stake in Carvana during the 4th quarter worth approximately $51,091,000. Farther Finance Advisors LLC raised its holdings in shares of Carvana by 333.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock valued at $740,000 after purchasing an additional 2,678 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Carvana in the 4th quarter valued at $36,527,000. Finally, Brucke Financial Inc. acquired a new stake in shares of Carvana in the 4th quarter valued at $415,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVNA. Wall Street Zen raised shares of Carvana from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. DA Davidson lifted their price target on shares of Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a report on Thursday. JMP Securities set a $460.00 price target on shares of Carvana and gave the company a "market outperform" rating in a report on Thursday. Robert W. Baird boosted their target price on shares of Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, William Blair restated an "outperform" rating on shares of Carvana in a report on Wednesday, July 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $357.37.

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.

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