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 dated Thursday, August 7th. The shares were sold at an average price of $359.63, for a total transaction of $35,963,000.00. Following the completion of the transaction, the insider directly owned 34,742,792 shares in the company, valued at $12,494,550,286.96. This represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 Tuesday, August 5th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $360.20, for a total transaction of $36,020,000.00.
- On Friday, August 1st, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $371.30, for a total transaction of $37,130,000.00.
- On Thursday, July 31st, Ernest C. Garcia II sold 6,624 shares of Carvana stock. The stock was sold at an average price of $409.89, for a total transaction of $2,715,111.36.
- On Wednesday, July 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $332.21, for a total transaction of $16,610,500.00.
- On Monday, July 28th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $335.66, for a total transaction of $16,783,000.00.
- On Friday, July 25th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $335.34, for a total transaction of $16,767,000.00.
- On Wednesday, July 23rd, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $337.22, for a total transaction of $16,861,000.00.
- On Monday, July 21st, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $342.96, for a total transaction of $17,148,000.00.
- On Friday, July 18th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $341.08, for a total transaction of $17,054,000.00.
- On Wednesday, July 16th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $352.40, for a total transaction of $35,240,000.00.
Carvana Price Performance
CVNA traded down $9.32 on Friday, hitting $348.43. 2,819,174 shares of the company were exchanged, compared to its average volume of 3,227,839. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The business's fifty day moving average is $337.34 and its 200 day moving average is $271.80. Carvana Co. has a fifty-two week low of $124.39 and a fifty-two week high of $413.33. The firm has a market capitalization of $74.98 billion, a P/E ratio of 87.33, a price-to-earnings-growth ratio of 1.18 and a beta of 3.57.
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, topping the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the business posted ($0.05) earnings per share. The firm's revenue for the quarter was up 41.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.
Institutional Trading of Carvana
Institutional investors and hedge funds have recently modified their holdings of the business. Hilltop National Bank purchased a new position in shares of Carvana during the second quarter valued at approximately $25,000. SJS Investment Consulting Inc. boosted its position in 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 acquiring an additional 96 shares during the last quarter. LRI Investments LLC acquired a new stake in Carvana during the second quarter worth approximately $42,000. Brooklyn Investment Group boosted its position in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after acquiring an additional 125 shares during the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new stake in Carvana during the first quarter worth approximately $33,000. Hedge funds and other institutional investors own 56.71% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently weighed in on CVNA. Bank of America lifted their target price on shares of Carvana from $375.00 to $425.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Citigroup reiterated an "outperform" rating on shares of Carvana in a report on Thursday, July 31st. Wedbush upgraded shares of Carvana to a "hold" rating in a research note on Thursday, May 8th. William Blair restated an "outperform" rating on shares of Carvana in a research note on Wednesday, July 23rd. Finally, Oppenheimer upgraded shares of Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price target for the company in a research note on Friday, July 25th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $379.65.
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About Carvana
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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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