Carvana Co. (NYSE:CVNA) Major Shareholder Ernest C. Garcia II Sells 100,000 Shares

Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 100,000 shares of the business's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $352.40, for a total value of $35,240,000.00. Following the transaction, the insider directly owned 35,892,792 shares in the company, valued at $12,648,619,900.80. This trade represents a 0.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% 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 Tuesday, July 15th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $343.97, for a total value of $17,198,500.00.
• On Monday, July 14th, Ernest C. Garcia II sold 98,528 shares of Carvana stock. The shares were sold at an average price of $349.77, for a total value of $34,462,138.56.
• On Friday, July 11th, Ernest C. Garcia II sold 96,026 shares of Carvana stock. The shares were sold at an average price of $348.75, for a total value of $33,489,067.50.
• On Thursday, July 10th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $352.36, for a total value of $35,236,000.00.
• On Tuesday, July 8th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $353.76, for a total value of $35,376,000.00.
• 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.

Carvana Stock Performance

Shares of NYSE CVNA traded down $5.49 during trading hours on Thursday, reaching $346.53. The stock had a trading volume of 3,339,683 shares, compared to its average volume of 3,793,095. The firm has a market cap of $74.21 billion, a price-to-earnings ratio of 121.59, a PEG ratio of 1.36 and a beta of 3.59. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97. Carvana Co. has a fifty-two week low of $118.50 and a fifty-two week high of $364.00. The firm has a 50-day moving average of $321.39 and a 200-day moving average of $255.12.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.75 by $0.76. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 EPS. Equities research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

CVNA has been the topic of several research analyst reports. Citigroup boosted their price objective on Carvana from $325.00 to $415.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Needham & Company LLC reissued a "buy" rating and set a $340.00 target price on shares of Carvana in a research note on Thursday, May 8th. Robert W. Baird boosted their target price on Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Stephens boosted their target price on Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Finally, JPMorgan Chase & Co. lowered their target price on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $305.00.

Institutional Trading of Carvana

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVNA. Atria Investments Inc purchased a new position in shares of Carvana during the 4th quarter worth approximately $240,000. Independent Advisor Alliance purchased a new position in shares of Carvana during the 4th quarter worth approximately $306,000. HighTower Advisors LLC raised its stake in shares of Carvana by 179.7% during the 4th quarter. HighTower Advisors LLC now owns 4,035 shares of the company's stock worth $821,000 after buying an additional 9,098 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Carvana by 21.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock worth $87,000 after buying an additional 74 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Carvana by 418.7% during the 4th quarter. Farther Finance Advisors LLC now owns 804 shares of the company's stock worth $164,000 after buying an additional 649 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

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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