Carvana (NYSE:CVNA) CEO Sells $3,005,160.00 in Stock

Key Points

• Carvana CEO Ernest Garcia III sold 7,900 shares of the company's stock for a total of $3,005,160, reducing his ownership by 2.10% to approximately 367,490 shares valued at about $139.8 million.
• The company recently reported a quarterly earnings per share of $1.28, exceeding analysts' expectations and reflecting a 41.9% year-over-year revenue increase.
• Analyst ratings are generally positive, with several firms raising their price targets for Carvana's stock, leading to a consensus rating of "Moderate Buy" with an average target of approximately $404.94.

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest Garcia III sold 7,900 shares of Carvana stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $380.40, for a total transaction of $3,005,160.00. Following the transaction, the chief executive officer directly owned 367,490 shares in the company, valued at approximately $139,793,196. This represents a 2.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Carvana Stock Performance

CVNA stock traded down $5.82 during midday trading on Monday, hitting $369.90. The company's stock had a trading volume of 1,797,943 shares, compared to its average volume of 3,873,377. The stock has a market cap of $79.60 billion, a price-to-earnings ratio of 92.71, a PEG ratio of 1.23 and a beta of 3.55. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $413.33. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. The stock's 50-day moving average price is $364.64 and its 200 day moving average price is $310.81.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.09 by $0.19. The business 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%. The company's revenue for the quarter was up 41.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. On average, equities analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup reiterated an "outperform" rating on shares of Carvana in a research note on Thursday, July 31st. Piper Sandler upped their target price on shares of Carvana from $340.00 to $440.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Wells Fargo & Company upped their price target on shares of Carvana from $390.00 to $425.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Evercore ISI upped their price target on shares of Carvana from $365.00 to $370.00 and gave the stock an "in-line" rating in a report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Carvana from $415.00 to $425.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 17th. Thirteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $404.94.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hilltop National Bank bought a new stake in Carvana in the 2nd quarter worth $25,000. Brooklyn Investment Group grew its position in shares of Carvana by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after buying an additional 125 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in Carvana in the first quarter valued at $33,000. SJS Investment Consulting Inc. boosted its holdings in Carvana by 960.0% in the second 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. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Carvana in the second quarter valued at $38,000. 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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