Ernest C. Garcia II Sells 50,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 50,000 shares of Carvana stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $325.16, for a total value of $16,258,000.00. Following the transaction, the insider now directly owns 37,342,317 shares in the company, valued at approximately $12,142,227,795.72. This trade represents a 0.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

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

• 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 transaction 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 transaction of $16,297,000.00.

Carvana Price Performance

NYSE:CVNA traded down $2.06 during mid-day trading on Thursday, hitting $343.58. The company's stock had a trading volume of 3,930,719 shares, compared to its average volume of 4,582,045. The company has a market capitalization of $73.58 billion, a price-to-earnings ratio of 218.84 and a beta of 3.61. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. Carvana Co. has a fifty-two week low of $100.05 and a fifty-two week high of $348.67. The stock has a fifty day moving average of $253.22 and a 200-day moving average of $237.20.

Carvana (NYSE:CVNA - Get Free Report) last posted its 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. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter last year, the company earned $0.23 EPS. Carvana's revenue was up 38.3% on a year-over-year basis. As a group, equities analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Carvana

Several institutional investors have recently bought and sold shares of CVNA. Price T Rowe Associates Inc. MD increased its stake in shares of Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock valued at $3,125,749,000 after buying an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock valued at $2,620,785,000 after purchasing an additional 1,109,476 shares in the last quarter. Lingotto Investment Management LLP lifted its holdings in Carvana by 1.5% during the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock worth $810,827,000 after buying an additional 57,215 shares in the last quarter. Durable Capital Partners LP increased its stake in shares of Carvana by 6.3% in the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock valued at $440,932,000 after buying an additional 129,246 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Carvana by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock valued at $381,592,000 after acquiring an additional 75,250 shares during the period. Institutional investors own 56.71% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CVNA. Wells Fargo & Company lifted their price objective on Carvana from $290.00 to $310.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Morgan Stanley lifted their price target on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Evercore ISI lowered their price target on Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a research note on Tuesday, March 11th. DA Davidson increased their price target on shares of Carvana from $220.00 to $260.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Finally, Piper Sandler set a $340.00 price objective on shares of Carvana and gave the stock an "overweight" rating in a report on Thursday, May 22nd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $275.65.

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.