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 on Thursday, July 10th. The shares were sold at an average price of $352.36, for a total value of $35,236,000.00. Following the completion of the sale, the insider owned 36,237,346 shares in the company, valued at $12,768,591,236.56. The trade was a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Ernest C. Garcia II also recently made the following trade(s):

• 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 value 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 value 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.
• 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 value of $1,616,320.65.
• On Tuesday, June 24th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $325.81, for a total value of $16,290,500.00.
• On Wednesday, June 11th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $337.46, for a total value of $16,873,000.00.
• On Monday, June 9th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $330.27, for a total value of $16,513,500.00.
• On Friday, June 6th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $346.99, for a total value of $34,699,000.00.
• 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 value 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.

Carvana Trading Down 0.6%

Shares of CVNA stock traded down $2.22 during mid-day trading on Friday, hitting $343.33. The company's stock had a trading volume of 1,873,600 shares, compared to its average volume of 3,828,148. The company's fifty day simple moving average is $315.96 and its 200-day simple moving average is $252.46. Carvana Co. has a 52 week low of $118.50 and a 52 week high of $364.00. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. The company has a market cap of $73.52 billion, a PE ratio of 120.47, a P/E/G ratio of 1.35 and a beta of 3.59.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CVNA. Morgan Stanley increased their price objective on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. dropped their target price on Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Stephens raised their target price on Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Piper Sandler set a $340.00 target price on Carvana and gave the company an "overweight" rating in a report on Thursday, May 22nd. Finally, Robert W. Baird raised their target price on Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Carvana has an average rating of "Moderate Buy" and an average target price of $303.59.

Institutional Investors Weigh In On Carvana

A number of hedge funds and other institutional investors have recently bought and sold shares of CVNA. Price T Rowe Associates Inc. MD raised its holdings 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 acquiring an additional 1,823,218 shares during the period. Vanguard Group Inc. increased its stake in Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock valued at $2,620,785,000 after acquiring an additional 1,109,476 shares during the last quarter. Norges Bank bought a new position in Carvana in the fourth quarter valued at $179,364,000. Castle Hook Partners LP bought a new position in Carvana in the fourth quarter valued at $116,020,000. Finally, BNP Paribas Financial Markets increased its stake in Carvana by 89.8% in the fourth quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock valued at $207,086,000 after acquiring an additional 481,912 shares during the last quarter. 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.