Carvana Co. (NYSE:CVNA) Major Shareholder Sells $35,376,000.00 in Stock

Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 100,000 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $353.76, for a total transaction of $35,376,000.00. Following the completion of the sale, the insider directly owned 36,437,346 shares of the company's stock, valued at approximately $12,890,075,520.96. This represents a 0.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Ernest C. Garcia II also recently made the following trade(s):

• On Wednesday, July 2nd, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $340.07, for a total transaction of $17,003,500.00.
• On Monday, June 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $327.07, for a total transaction of $16,353,500.00.
• On Wednesday, June 25th, Ernest C. Garcia II sold 4,971 shares of Carvana stock. The stock was sold at an average price of $325.15, for a total transaction of $1,616,320.65.
• On Tuesday, June 24th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $325.81, for a total value of $16,290,500.00.
• On Wednesday, June 11th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $337.46, for a total value of $16,873,000.00.
• On Monday, June 9th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $330.27, for a total value of $16,513,500.00.
• On Friday, June 6th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $346.99, for a total value of $34,699,000.00.
• On Wednesday, June 4th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $339.58, for a total value of $16,979,000.00.
• On Monday, June 2nd, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $325.94, for a total value of $16,297,000.00.
• On Friday, May 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $325.16, for a total value of $16,258,000.00.

Carvana Stock Down 0.6%

NYSE CVNA traded down $2.22 during trading on Friday, hitting $343.33. The stock had a trading volume of 1,873,600 shares, compared to its average volume of 3,826,617. The company has a market capitalization of $73.52 billion, a PE ratio of 120.47, a P/E/G ratio of 1.37 and a beta of 3.59. The company's 50-day moving average price is $314.24 and its two-hundred day moving average price is $251.63. 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 Co. has a 12 month low of $118.50 and a 12 month high of $364.00.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter last year, the company earned $0.23 earnings per share. The firm's quarterly revenue was up 38.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on CVNA shares. Morgan Stanley lifted their target price on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. JMP Securities set a $440.00 target price on Carvana and gave the company a "market outperform" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada lifted their target price on Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Wall Street Zen raised Carvana from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Citigroup boosted their price target on Carvana from $325.00 to $415.00 and gave the company a "buy" rating in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $303.59.

Institutional Trading of Carvana

Several large investors have recently modified their holdings of CVNA. Brooklyn Investment Group raised its position in Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after purchasing an additional 125 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Carvana during the first quarter valued at approximately $33,000. Transce3nd LLC purchased a new position in shares of Carvana during the fourth quarter valued at approximately $48,000. Geneos Wealth Management Inc. lifted its holdings in Carvana by 251.4% during the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock worth $53,000 after acquiring an additional 181 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Carvana by 39.4% in the first quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after buying an additional 82 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

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.