Carvana Co. (NYSE:CVNA) CEO Sells $3,521,200.00 in Stock

Key Points

• Carvana's CEO, Ernest C. Garcia III, sold 10,000 shares of the company at an average price of $352.12, totaling $3,521,200, leading to a 1.72% decrease in his ownership.
• The company's stock is currently trading at $357.05 with a market capitalization of $76.46 billion and a last quarter revenue of $4.84 billion, exceeding estimates.
• Several analysts have upgraded Carvana's stock rating recently, with target prices ranging from $305.00 to $460.00, indicating a general optimism about the company's growth potential.

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 10,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $352.12, for a total transaction of $3,521,200.00. Following the sale, the chief executive officer directly owned 571,440 shares of the company's stock, valued at $201,215,452.80. This represents a 1.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Carvana Stock Performance

Shares of NYSE:CVNA traded up $2.16 during midday trading on Thursday, hitting $357.05. The stock had a trading volume of 2,180,172 shares, compared to its average volume of 4,235,505. The company has a market capitalization of $76.46 billion, a PE ratio of 89.49, a P/E/G ratio of 1.16 and a beta of 3.57. The stock has a 50 day moving average price of $336.17 and a two-hundred day moving average price of $270.13. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. Carvana Co. has a 1 year low of $124.39 and a 1 year high of $413.33.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.19. The business had revenue of $4.84 billion for 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 40.57%. The business's quarterly revenue was up 41.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. As a group, equities analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Carvana from $390.00 to $425.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Wedbush raised shares of Carvana to a "hold" rating in a research report on Thursday, May 8th. Oppenheimer upgraded shares of Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 target price on the stock in a report on Friday, July 25th. Royal Bank Of Canada raised their price objective on shares of Carvana from $400.00 to $460.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Evercore ISI increased their target price on shares of Carvana from $295.00 to $305.00 and gave the company an "in-line" rating in a research report on Tuesday, June 24th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Carvana currently has an average rating of "Moderate Buy" and an average price target of $379.65.

Institutional Trading of Carvana

Several hedge funds and other institutional investors have recently made changes to their positions in CVNA. Hilltop National Bank acquired a new position in shares of Carvana in the second quarter valued at approximately $25,000. Brooklyn Investment Group lifted its position in shares of Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after purchasing an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Carvana during the first quarter worth $33,000. SJS Investment Consulting Inc. lifted its position in shares of Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company's stock worth $36,000 after purchasing an additional 96 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Carvana in the second quarter valued at $42,000. Institutional investors and hedge funds own 56.71% of the company's stock.

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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