Carvana (NYSE:CVNA) CEO Ernest Garcia III Sells 10,000 Shares

Key Points

• Ernest Garcia III, the CEO of Carvana, sold **10,000 shares** of the company stock at an average price of **$366.53**, totaling approximately **$3.67 million**, reducing his ownership stake by **2.49%**.
• Carvana's stock has rebounded recently, with shares reaching **$391.40**, marking a significant increase from a **52-week low** of **$148.25**.
• Several analysts have **upgraded** their price targets for Carvana, with projections reaching as high as **$500** and a consensus rating of **"Moderate Buy"**.

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest Garcia III sold 10,000 shares of Carvana stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $366.53, for a total transaction of $3,665,300.00. Following the sale, the chief executive officer owned 391,440 shares in the company, valued at approximately $143,474,503.20. This represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Carvana Stock Performance

Shares of NYSE CVNA traded up $22.11 during midday trading on Monday, reaching $391.40. 3,930,218 shares of the company traded hands, compared to its average volume of 3,915,266. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33. The stock has a 50-day moving average price of $359.61 and a 200 day moving average price of $303.54. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. The company has a market cap of $84.23 billion, a price-to-earnings ratio of 98.10, a PEG ratio of 1.21 and a beta of 3.51.

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

Hedge Funds Weigh In On Carvana

Institutional investors have recently bought and sold shares of the stock. Hilltop National Bank purchased a new position in Carvana in the 2nd quarter worth about $25,000. SJS Investment Consulting Inc. grew its stake in Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company's stock valued at $36,000 after acquiring an additional 96 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Carvana during the 2nd quarter valued at about $38,000. LRI Investments LLC purchased a new position in Carvana during the 2nd quarter valued at about $42,000. Finally, Brooklyn Investment Group grew its stake in Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CVNA shares. Royal Bank Of Canada boosted their price target on shares of Carvana from $400.00 to $460.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Needham & Company LLC boosted their price target on shares of Carvana from $340.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Wall Street Zen upgraded shares of Carvana from a "hold" rating to a "buy" rating in a research report on Saturday, September 20th. Evercore ISI boosted their price target on shares of Carvana from $365.00 to $370.00 and gave the stock an "in-line" rating in a research report on Tuesday, August 12th. Finally, Bank of America boosted their price target on shares of Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $387.88.

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.

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