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 the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $341.08, for a total transaction of $17,054,000.00. Following the transaction, the insider owned 35,742,792 shares in the company, valued at approximately $12,191,151,495.36. The trade was a 0.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more 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 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 transaction of $35,240,000.00.
• 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 transaction of $17,198,500.00.
• 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 transaction 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 transaction 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 transaction of $35,236,000.00.
• On Tuesday, July 8th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $353.76, for a total transaction 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 transaction 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 transaction 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 transaction 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 transaction of $16,290,500.00.

Carvana Trading Down 1.5%

NYSE:CVNA traded down $5.23 during midday trading on Monday, hitting $342.29. 1,560,522 shares of the company traded hands, compared to its average volume of 3,767,713. The firm's fifty day moving average is $324.19 and its 200-day moving average is $257.82. Carvana Co. has a 12-month low of $118.50 and a 12-month high of $364.00. The firm has a market capitalization of $73.30 billion, a P/E ratio of 120.10, a P/E/G 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 (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter last year, the firm posted $0.23 earnings per share. The business's revenue was up 38.3% compared to the same quarter last year. On average, sell-side analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CVNA shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $340.00 target price on shares of Carvana in a research note on Thursday, May 8th. Citigroup raised their target price on shares of Carvana from $325.00 to $415.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Bank of America raised their price objective on Carvana from $325.00 to $375.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Wedbush upgraded Carvana to a "hold" rating in a research note on Thursday, May 8th. Finally, Robert W. Baird boosted their price target on Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $310.83.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently added to or reduced their stakes in the stock. Hilltop National Bank purchased a new stake in shares of Carvana during the second quarter worth about $25,000. Brooklyn Investment Group increased 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 worth $29,000 after purchasing an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Carvana during the first quarter worth approximately $33,000. SJS Investment Consulting Inc. increased its position in shares of 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 purchasing an additional 96 shares in the last quarter. Finally, Transce3nd LLC purchased a new stake in Carvana in the 4th quarter valued at $48,000. Institutional investors own 56.71% of the company's stock.

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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