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

Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 50,000 shares of Carvana stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $343.97, for a total value of $17,198,500.00. Following the completion of the transaction, the insider owned 35,892,792 shares of the company's stock, valued at approximately $12,346,043,664.24. The trade was a 0.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 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 Wednesday, July 16th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $352.40, for a total value of $35,240,000.00.
• On Monday, July 14th, Ernest C. Garcia II sold 98,528 shares of Carvana stock. The stock was 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 stock was 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 stock was 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 stock was 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 stock was 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.

Carvana Price Performance

Shares of NYSE:CVNA traded down $5.49 during trading on Thursday, hitting $346.53. 3,339,683 shares of the company were exchanged, compared to its average volume of 3,793,095. The business's 50 day moving average is $321.39 and its 200-day moving average is $255.12. The company has a market capitalization of $74.21 billion, a P/E ratio of 121.59, a price-to-earnings-growth ratio of 1.36 and a beta of 3.59. The company has a quick ratio of 2.70, a current ratio of 3.81 and a debt-to-equity ratio of 2.97. Carvana Co. has a 1-year low of $118.50 and a 1-year high of $364.00.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (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 the consensus estimate of $3.94 billion. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The company's revenue for the quarter was up 38.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share. Equities analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Institutional Trading of Carvana

A number of institutional investors have recently bought and sold shares of the company. Yousif Capital Management LLC boosted its position in shares of Carvana by 4.1% during the 1st quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock worth $265,000 after purchasing an additional 50 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Carvana by 5.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company's stock worth $256,000 after purchasing an additional 60 shares in the last quarter. Commerce Bank boosted its position in shares of Carvana by 1.6% during the 1st quarter. Commerce Bank now owns 4,446 shares of the company's stock worth $930,000 after purchasing an additional 69 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Carvana by 3.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company's stock worth $466,000 after purchasing an additional 72 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Carvana by 21.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock worth $87,000 after acquiring an additional 74 shares during the last quarter. Institutional investors own 56.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CVNA shares. Gordon Haskett started coverage on Carvana in a research note on Monday. They issued a "hold" rating and a $329.00 price objective on the stock. Citigroup boosted their price objective on Carvana from $325.00 to $415.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Wall Street Zen raised Carvana from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Piper Sandler set a $340.00 target price on Carvana and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. Finally, 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 report on Thursday, May 8th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $305.00.

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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