Carvana Co. (NYSE:CVNA) Major Shareholder Sells $16,297,000.00 in Stock

Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 50,000 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $325.94, for a total transaction of $16,297,000.00. Following the completion of the transaction, the insider now owns 37,342,317 shares in the company, valued at $12,171,354,802.98. The trade was a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company's stock 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 shares were sold at an average price of $339.58, for a total transaction of $16,979,000.00.
• 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 Stock Performance

Carvana stock traded down $1.37 during midday trading on Friday, hitting $341.94. The company's stock had a trading volume of 1,850,292 shares, compared to its average volume of 4,556,332. The company has a market cap of $73.22 billion, a price-to-earnings ratio of 217.55 and a beta of 3.61. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The company has a 50-day moving average price of $255.91 and a two-hundred day moving average price of $237.88. Carvana Co. has a 1-year low of $100.05 and a 1-year high of $351.43.

Carvana (NYSE:CVNA - Get Free Report) last posted 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. Carvana had a net margin of 1.54% and a return on equity of 36.59%. 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 business posted $0.23 EPS. The firm's revenue for the quarter was up 38.3% on a year-over-year basis. As a group, sell-side analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVNA. JPMorgan Chase & Co. dropped their price objective on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Piper Sandler set a $340.00 target price on Carvana and gave the stock an "overweight" rating in a report on Thursday, May 22nd. Robert W. Baird lifted their target price on Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Evercore ISI dropped their price objective on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a report on Tuesday, March 11th. Finally, Morgan Stanley upped their target price on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $275.65.

Hedge Funds Weigh In On Carvana

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quent Capital LLC acquired a new stake in shares of Carvana during the 4th quarter valued at $28,000. Brooklyn Investment Group increased its position in Carvana by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after acquiring an additional 125 shares during the period. Global Retirement Partners LLC raised its stake in shares of Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Rialto Wealth Management LLC acquired a new position in shares of Carvana during the fourth quarter worth $31,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Carvana in the first quarter worth $33,000. Institutional investors own 56.71% of the company's stock.

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.