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

Key Points

• Ernest C. Garcia II, a major shareholder of Carvana Co., sold 100,000 shares on August 5th for a total of $36,020,000, reducing his ownership by 0.29% to approximately 34.9 million shares.
• Following Garcia's transactions, Carvana's stock price reached $354.91 on midday trading Wednesday, suggesting a growing interest in the company's stock amid recent sales.
• Carvana reported earnings of $1.28 EPS for the quarter, surpassing analysts' expectations and indicating a 41.9% year-over-year revenue increase.

Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $360.20, for a total value of $36,020,000.00. Following the sale, the insider owned 34,942,792 shares of the company's stock, valued at approximately $12,586,393,678.40. This trade represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% 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 Thursday, August 7th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $359.63, for a total transaction of $35,963,000.00.
• On Friday, August 1st, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $371.30, for a total value of $37,130,000.00.
• On Thursday, July 31st, Ernest C. Garcia II sold 6,624 shares of Carvana stock. The shares were sold at an average price of $409.89, for a total value of $2,715,111.36.
• On Wednesday, July 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $332.21, for a total transaction of $16,610,500.00.
• On Monday, July 28th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $335.66, for a total transaction of $16,783,000.00.
• On Friday, July 25th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $335.34, for a total value of $16,767,000.00.
• On Wednesday, July 23rd, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $337.22, for a total transaction of $16,861,000.00.
• On Monday, July 21st, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $342.96, for a total transaction of $17,148,000.00.
• On Friday, July 18th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $341.08, for a total value of $17,054,000.00.
• On Wednesday, July 16th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $352.40, for a total value of $35,240,000.00.

Carvana Price Performance

CVNA traded down $9.32 on Friday, hitting $348.43. 2,819,174 shares of the company's stock were exchanged, compared to its average volume of 3,227,839. Carvana Co. has a fifty-two week low of $124.39 and a fifty-two week high of $413.33. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. The firm has a 50-day moving average price of $337.34 and a 200-day moving average price of $272.07. The stock has a market cap of $74.98 billion, a price-to-earnings ratio of 87.33, a P/E/G ratio of 1.15 and a beta of 3.57.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.19. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. Carvana's quarterly revenue was up 41.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) earnings per share. As a group, equities analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Institutional Investors Weigh In On Carvana

A number of large investors have recently made changes to their positions in the stock. Hilltop National Bank acquired a new position in Carvana during the second quarter worth $25,000. Brooklyn Investment Group increased its position in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after purchasing an additional 125 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Carvana during the first quarter worth about $33,000. SJS Investment Consulting Inc. boosted its holdings in Carvana by 960.0% in the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company's stock valued at $36,000 after purchasing an additional 96 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in Carvana in the 2nd quarter valued at about $42,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CVNA shares. JMP Securities upped their price target on shares of Carvana from $440.00 to $460.00 and gave the company a "market outperform" rating in a research note on Thursday, July 31st. Gordon Haskett started coverage on shares of Carvana in a research note on Monday, July 14th. They issued a "hold" rating and a $329.00 price objective on the stock. Oppenheimer raised Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price target on the stock in a research report on Friday, July 25th. William Blair reaffirmed an "outperform" rating on shares of Carvana in a report on Wednesday, July 23rd. Finally, Wedbush raised Carvana to a "hold" rating in a report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $379.65.

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.