Carvana Co. (NYSE:CVNA) Major Shareholder Sells $16,979,000.00 in Stock

Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 50,000 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $339.58, for a total value of $16,979,000.00. Following the transaction, the insider now owns 37,242,317 shares of the company's stock, valued at $12,646,746,006.86. The trade was a 0.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own at least 10% 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 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 transaction 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 value of $16,258,000.00.

Carvana Price Performance

Carvana stock traded down $1.15 during mid-day trading on Friday, reaching $342.16. 1,850,292 shares of the company's stock traded hands, compared to its average volume of 3,957,285. The stock has a 50 day moving average of $255.91 and a two-hundred day moving average of $237.88. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The company has a market cap of $73.27 billion, a price-to-earnings ratio of 217.55 and a beta of 3.61. Carvana Co. has a 12-month low of $100.05 and a 12-month high of $351.24.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.94 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Carvana's quarterly revenue was up 38.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. Equities analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Institutional Investors Weigh In On Carvana

Several hedge funds and other institutional investors have recently modified their holdings of CVNA. Price T Rowe Associates Inc. MD boosted its position in Carvana by 13.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock valued at $3,125,749,000 after buying an additional 1,823,218 shares during the period. Vanguard Group Inc. raised its holdings in Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock worth $2,620,785,000 after purchasing an additional 1,109,476 shares in the last quarter. Lingotto Investment Management LLP lifted its position in shares of Carvana by 1.5% during the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock valued at $810,827,000 after buying an additional 57,215 shares during the last quarter. Durable Capital Partners LP grew its position in shares of Carvana by 6.3% in the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock worth $440,932,000 after buying an additional 129,246 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Carvana by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock valued at $381,592,000 after acquiring an additional 75,250 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented 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. William Blair reissued an "outperform" rating on shares of Carvana in a research note on Thursday, February 20th. Evercore ISI reduced their target price on Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a report on Tuesday, March 11th. Piper Sandler set a $340.00 target price on shares of Carvana and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Finally, DA Davidson boosted their price target on Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $275.65.

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.