Carvana (NYSE:CVNA) CEO Sells $1,996,852.00 in Stock

Key Points

• Carvana CEO Ernest Garcia III sold 5,200 shares of stock for a total of $1,996,852, reducing his ownership stake by 1.32% to 388,840 shares.
• The company's stock recently reached $395.41, reflecting a price increase amidst a burgeoning market capitalization of approximately $85.09 billion.
• Analysts have raised their target prices for Carvana, with estimates ranging from $425.00 to $500.00, indicating a strong overall "buy" sentiment from a majority of research analysts.

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest Garcia III sold 5,200 shares of Carvana stock in a transaction on Monday, September 29th. The stock was sold at an average price of $384.01, for a total transaction of $1,996,852.00. Following the transaction, the chief executive officer directly owned 388,840 shares in the company, valued at $149,318,448.40. This represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Carvana Stock Performance

Shares of NYSE CVNA traded up $18.17 during mid-day trading on Wednesday, reaching $395.41. 3,299,082 shares of the company's stock were exchanged, compared to its average volume of 3,907,040. The firm has a market capitalization of $85.09 billion, a price-to-earnings ratio of 99.10, a price-to-earnings-growth ratio of 1.28 and a beta of 3.51. Carvana Co. has a 52 week low of $148.25 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 firm has a 50-day moving average price of $361.31 and a two-hundred day moving average price of $305.52.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Bank of America lifted their target price on Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Needham & Company LLC lifted their target price on Carvana from $340.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Jefferies Financial Group set a $475.00 price objective on shares of Carvana in a report on Wednesday. Citigroup reaffirmed an "outperform" rating on shares of Carvana in a report on Thursday, July 31st. Finally, Piper Sandler upped their price objective on shares of Carvana from $340.00 to $440.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $404.94.

Institutional Trading of Carvana

Several hedge funds and other institutional investors have recently bought and sold shares of CVNA. Wealth Enhancement Advisory Services LLC boosted its stake in Carvana by 16.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,513 shares of the company's stock worth $511,000 after buying an additional 348 shares in the last quarter. Wellington Management Group LLP boosted its stake in Carvana by 4.1% in the fourth quarter. Wellington Management Group LLP now owns 36,215 shares of the company's stock worth $7,365,000 after buying an additional 1,430 shares in the last quarter. Versant Capital Management Inc boosted its stake in Carvana by 39.4% in the first quarter. Versant Capital Management Inc now owns 290 shares of the company's stock worth $61,000 after buying an additional 82 shares in the last quarter. GAMMA Investing LLC boosted its stake in Carvana by 27,368.4% in the first quarter. GAMMA Investing LLC now owns 215,352 shares of the company's stock worth $45,026,000 after buying an additional 214,568 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Carvana by 5.7% in the first quarter. Rhumbline Advisers now owns 208,856 shares of the company's stock worth $43,668,000 after buying an additional 11,240 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

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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