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

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $338.26, for a total transaction of $3,382,600.00. Following the completion of the sale, the chief executive officer now owns 765,000 shares in the company, valued at $258,768,900. This trade represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Carvana Stock Performance

NYSE CVNA traded down $22.24 during trading hours on Friday, reaching $296.71. The stock had a trading volume of 6,604,157 shares, compared to its average volume of 3,935,991. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. Carvana Co. has a 52-week low of $100.05 and a 52-week high of $351.43. The stock has a fifty day moving average of $272.91 and a 200 day moving average of $240.95. The stock has a market cap of $63.54 billion, a P/E ratio of 188.99 and a beta of 3.65.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter last year, the firm posted $0.23 EPS. The business's revenue was up 38.3% on a year-over-year basis. Sell-side analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently modified their holdings of the business. abrdn plc acquired a new stake in shares of Carvana during the 4th quarter worth about $294,000. Yousif Capital Management LLC purchased a new stake in shares of Carvana in the fourth quarter valued at approximately $247,000. Bleakley Financial Group LLC boosted its position in Carvana by 2.8% during the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company's stock worth $483,000 after purchasing an additional 65 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Carvana by 8,600.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 219,256 shares of the company's stock valued at $44,588,000 after acquiring an additional 216,736 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Carvana in the fourth quarter valued at $2,091,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wedbush raised shares of Carvana to a "hold" rating in a research report on Thursday, May 8th. Needham & Company LLC reiterated a "buy" rating and issued a $340.00 target price on shares of Carvana in a report on Thursday, May 8th. Evercore ISI cut their price target on Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a report on Tuesday, March 11th. Royal Bank of Canada increased their target price on Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, DA Davidson lifted their target price on Carvana from $220.00 to $260.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Carvana presently has an average rating of "Moderate Buy" and a consensus target price of $280.35.

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.