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

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 that occurred on Monday, July 21st. The stock was sold at an average price of $342.96, for a total transaction of $17,148,000.00. Following the sale, the insider directly owned 35,642,792 shares in the company, valued at $12,224,051,944.32. This trade represents a 0.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 Friday, July 18th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $341.08, for a total transaction of $17,054,000.00.
• 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 shares were 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 value of $34,462,138.56.
• On Friday, July 11th, Ernest C. Garcia II sold 96,026 shares of Carvana stock. The shares were 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 shares were 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 shares were 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.

Carvana Stock Up 1.7%

Shares of NYSE CVNA traded up $5.58 during trading on Friday, reaching $331.67. 2,063,334 shares of the stock were exchanged, compared to its average volume of 4,243,487. The business's 50-day moving average price is $327.76 and its 200 day moving average price is $261.07. Carvana Co. has a twelve month low of $118.50 and a twelve month high of $364.00. The company has a quick ratio of 2.70, a current ratio of 3.81 and a debt-to-equity ratio of 2.97. The company has a market capitalization of $71.03 billion, a price-to-earnings ratio of 116.38, a price-to-earnings-growth ratio of 1.33 and a beta of 3.59.

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, beating the consensus estimate of $0.75 by $0.76. The firm had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The firm's quarterly revenue was up 38.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. As a group, equities analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on CVNA. Needham & Company LLC restated a "buy" rating and issued a $340.00 price objective on shares of Carvana in a research report on Thursday, May 8th. Gordon Haskett started coverage on Carvana in a research report on Monday, July 14th. They issued a "hold" rating and a $329.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Carvana from $325.00 to $350.00 and gave the company an "overweight" rating in a research report on Monday. Morgan Stanley raised their price objective on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Finally, Oppenheimer upgraded Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price objective for the company in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $318.16.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its position in Carvana by 13.9% during 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 purchasing an additional 1,823,218 shares during the period. Vanguard Group Inc. boosted its position in Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock worth $2,620,785,000 after acquiring an additional 1,109,476 shares during the period. Durable Capital Partners LP lifted its position in Carvana by 6.3% in the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock worth $440,932,000 after purchasing an additional 129,246 shares during the period. Geode Capital Management LLC lifted its position in Carvana by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock worth $381,592,000 after purchasing an additional 75,250 shares during the period. Finally, Whale Rock Capital Management LLC lifted its position in Carvana by 29.8% in the fourth quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company's stock worth $247,017,000 after purchasing an additional 278,760 shares during the period. Institutional investors and hedge funds 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.