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 firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $353.76, for a total value of $35,376,000.00. Following the completion of the transaction, the insider owned 36,437,346 shares in the company, valued at approximately $12,890,075,520.96. This trade represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases 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 shares were sold at an average price of $340.07, for a total value 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 value of $16,353,500.00.
• On Wednesday, June 25th, Ernest C. Garcia II sold 4,971 shares of Carvana stock. The shares were sold at an average price of $325.15, for a total value 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $325.16, for a total value of $16,258,000.00.

Carvana Trading Down 1.5%

CVNA traded down $5.10 on Thursday, hitting $345.99. The company had a trading volume of 2,130,945 shares, compared to its average volume of 3,834,428. The company has a market cap of $74.09 billion, a PE ratio of 121.40, a PEG ratio of 1.37 and a beta of 3.59. Carvana Co. has a 12-month low of $118.50 and a 12-month high of $364.00. The company has a quick ratio of 2.70, a current ratio of 3.81 and a debt-to-equity ratio of 2.97. The business's fifty day simple moving average is $314.24 and its 200 day simple moving average is $251.63.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $0.75 by $0.76. The company had revenue of $4.23 billion during 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%. The firm's revenue was up 38.3% on a year-over-year basis. During the same quarter last year, the business posted $0.23 earnings per share. Equities research analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Brooklyn Investment Group boosted 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 valued at $29,000 after buying an additional 125 shares during the period. 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. boosted its position in shares of Carvana by 251.4% during the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock valued at $53,000 after buying an additional 181 shares during the period. Finally, Versant Capital Management Inc boosted its position in shares of Carvana by 39.4% during 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. Hedge funds and other institutional investors own 56.71% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on CVNA shares. Wedbush raised Carvana to a "hold" rating in a report on Thursday, May 8th. Needham & Company LLC reissued a "buy" rating and set a $340.00 price target on shares of Carvana in a report on Thursday, May 8th. Robert W. Baird raised their price target on Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Bank of America raised their price target on Carvana from $325.00 to $375.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, JPMorgan Chase & Co. reduced their target price on Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $303.59.

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.