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

Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $352.36, for a total transaction of $35,236,000.00. Following the completion of the sale, the insider directly owned 36,237,346 shares in the company, valued at approximately $12,768,591,236.56. This represents a 0.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major 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 shares were 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 stock was 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 shares were 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 transaction 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 transaction of $16,290,500.00.
• On Wednesday, June 11th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was 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 stock was sold at an average price of $330.27, for a total transaction 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 transaction of $34,699,000.00.
• 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 Monday, June 2nd, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $325.94, for a total transaction of $16,297,000.00.

Carvana Stock Performance

Shares of NYSE CVNA traded up $4.18 during mid-day trading on Monday, hitting $347.85. The stock had a trading volume of 1,954,292 shares, compared to its average volume of 3,808,428. The company has a 50 day moving average of $315.96 and a two-hundred day moving average of $252.86. Carvana Co. has a twelve month low of $118.50 and a twelve month 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 firm has a market cap of $74.49 billion, a PE ratio of 122.05, a PEG ratio of 1.34 and a beta of 3.59.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share 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 for the quarter, compared to analyst estimates of $3.94 billion. During the same period in the prior year, the company earned $0.23 earnings per share. The company's revenue was up 38.3% on a year-over-year basis. Research analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Institutional Trading of Carvana

Several large investors have recently made changes to their positions in CVNA. J.Safra Asset Management Corp boosted its stake in shares of Carvana by 140.8% in the first quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock worth $709,000 after buying an additional 1,982 shares during the last quarter. Worldquant Millennium Advisors LLC acquired a new position in Carvana in the fourth quarter valued at approximately $51,091,000. Farther Finance Advisors LLC boosted its position in Carvana by 333.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock worth $740,000 after purchasing an additional 2,678 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Carvana during the 4th quarter worth approximately $36,527,000. Finally, Brucke Financial Inc. purchased a new position in shares of Carvana during the 4th quarter valued at approximately $415,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVNA has been the subject of a number of analyst reports. Royal Bank Of Canada upped their target price on Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Wedbush upgraded Carvana to a "hold" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. reduced their target price 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. Stephens raised their price target on shares of Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Finally, JMP Securities set a $440.00 price objective on shares of Carvana and gave the stock a "market outperform" rating in a research note on Wednesday, July 2nd. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $305.00.

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.