Carvana Co. (NYSE:CVNA) Major Shareholder Ernest C. Garcia II Sells 100,000 Shares

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 Friday, June 6th. The shares were sold at an average price of $346.99, for a total transaction of $34,699,000.00. Following the completion of the sale, the insider now owns 37,092,317 shares in the company, valued at $12,870,663,075.83. This represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a 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 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 value of $16,297,000.00.
• On Friday, May 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $325.16, for a total transaction of $16,258,000.00.

Carvana Price Performance

NYSE:CVNA traded down $5.60 during trading hours on Tuesday, hitting $334.31. The company's stock had a trading volume of 740,693 shares, compared to its average volume of 3,936,787. Carvana Co. has a 52-week low of $100.05 and a 52-week high of $351.43. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The business's 50-day moving average is $260.79 and its two-hundred day moving average is $238.98. The company has a market capitalization of $71.59 billion, a PE ratio of 212.62 and a beta of 3.65.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The firm's revenue was up 38.3% on a year-over-year basis. As a group, research analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CVNA shares. Robert W. Baird lifted their target price on shares of Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. reduced their price target on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Royal Bank of Canada upped their price objective on Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Bank of America raised their target price on Carvana from $325.00 to $375.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Evercore ISI decreased their price target on Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a research note on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, Carvana presently has an average rating of "Moderate Buy" and a consensus target price of $280.35.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently modified their holdings of CVNA. Brooklyn Investment Group increased its position in shares of Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after buying an additional 125 shares in the last quarter. Quent Capital LLC acquired a new stake in Carvana in the 4th quarter valued at about $28,000. Global Retirement Partners LLC increased its holdings in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after acquiring an additional 78 shares in the last quarter. Rialto Wealth Management LLC acquired a new position in Carvana during the fourth quarter worth about $31,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Carvana in the first quarter valued at about $33,000. Institutional investors and hedge funds 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.