Carvana (NYSE:CVNA) CEO Ernest Garcia III Sells 6,060 Shares

Key Points

• Carvana CEO Ernest Garcia III sold 6,060 shares of the company's stock for approximately $2.15 million, reducing his holdings by 1.35% to 443,410 shares valued at around $157.6 million.
• Carvana's stock has recently experienced a rebound, trading at $364.73 with a market capitalization of $78.49 billion, reflecting significant volatility with a 52-week low of $143.03 and high of $413.33.
• Analysts are optimistic about Carvana's growth, with several firms including JPMorgan and Wells Fargo raising their price targets for the stock, indicating an average target price of $383.47 and a consensus rating of "Moderate Buy."

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest Garcia III sold 6,060 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $355.45, for a total transaction of $2,154,027.00. Following the sale, the chief executive officer directly owned 443,410 shares in the company, valued at approximately $157,610,084.50. This represents a 1.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Carvana Stock Performance

NYSE:CVNA traded up $2.96 during trading hours on Monday, hitting $364.73. 1,473,419 shares of the company were exchanged, compared to its average volume of 2,328,152. The stock has a market capitalization of $78.49 billion, a price-to-earnings ratio of 90.67, a PEG ratio of 1.19 and a beta of 3.51. Carvana Co. has a 52-week low of $143.03 and a 52-week high of $413.33. 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's 50 day moving average price is $354.06 and its 200-day moving average price is $290.85.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CVNA shares. Citigroup reiterated an "outperform" rating on shares of Carvana in a research report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price objective on shares of Carvana from $350.00 to $415.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Wells Fargo & Company increased their price objective on shares of Carvana from $390.00 to $425.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Royal Bank Of Canada boosted their target price on shares of Carvana from $400.00 to $460.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, JMP Securities increased their price target on Carvana from $440.00 to $460.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Carvana has an average rating of "Moderate Buy" and an average target price of $383.47.

Institutional Inflows and Outflows

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

About Carvana

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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