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

Key Points

• Ernest C. Garcia II sold 50,000 shares of Carvana Co. at an average price of $337.22, amounting to a total transaction of $16.86 million.
• Following this sale, Garcia still retains a significant stake of 35.5 million shares in the company, valued at approximately $12 billion.
• Carvana's stock has seen a year-to-date performance with a low of $118.50 and a high of $364.00, indicating significant volatility.

Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $337.22, for a total transaction of $16,861,000.00. Following the sale, the insider owned 35,542,792 shares of the company's stock, valued at $11,985,740,318.24. This represents a 0.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large 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 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 value 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 value 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 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 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 stock was sold at an average price of $327.07, for a total value of $16,353,500.00.

Carvana Price Performance

CVNA stock traded up $5.58 during trading on Friday, hitting $331.67. 2,065,059 shares of the stock traded hands, compared to its average volume of 2,795,500. Carvana Co. has a one year low of $118.50 and a one year high of $364.00. The company has a 50 day simple moving average of $328.40 and a 200 day simple moving average of $261.99. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97. The stock has a market cap of $71.02 billion, a price-to-earnings ratio of 114.42, a P/E/G ratio of 1.26 and a beta of 3.59.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.76. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The firm had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. During the same quarter last year, the company posted $0.23 EPS. The company's quarterly revenue was up 38.3% compared to the same quarter last year. Equities analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Atria Wealth Solutions Inc. acquired a new stake in shares of Carvana during the 2nd quarter worth approximately $564,000. Envestnet Portfolio Solutions Inc. acquired a new stake in Carvana during the 2nd quarter worth $898,000. Yousif Capital Management LLC raised its position in shares of Carvana by 26.6% during the 2nd quarter. Yousif Capital Management LLC now owns 1,603 shares of the company's stock valued at $540,000 after acquiring an additional 337 shares during the last quarter. MGO One Seven LLC acquired a new position in shares of Carvana in the 2nd quarter valued at $218,000. Finally, LRI Investments LLC bought a new position in shares of Carvana in the 2nd quarter worth $42,000. 56.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Needham & Company LLC reiterated a "buy" rating and issued a $340.00 price target on shares of Carvana in a report on Thursday, May 8th. Evercore ISI increased their target price on Carvana from $295.00 to $305.00 and gave the stock an "in-line" rating in a research report on Tuesday, June 24th. Royal Bank Of Canada upped their price target on Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Finally, JMP Securities set a $440.00 target price on shares of Carvana and gave the stock a "market outperform" rating in a research report on Wednesday, July 2nd. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $318.16.

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.

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