Ernest C. Garcia II Sells 4,971 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 4,971 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $325.15, for a total transaction of $1,616,320.65. Following the sale, the insider now directly owns 36,837,346 shares in the company, valued at $11,977,663,051.90. This trade represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 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 Tuesday, June 24th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $325.81, for a total transaction of $16,290,500.00.
• On Wednesday, June 11th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $337.46, for a total transaction of $16,873,000.00.
• On Monday, June 9th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $330.27, for a total value of $16,513,500.00.
• On Friday, June 6th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $346.99, for a total value of $34,699,000.00.
• On Wednesday, June 4th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $339.58, for a total value of $16,979,000.00.
• On Monday, June 2nd, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $325.94, for a total value of $16,297,000.00.
• On Friday, May 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $325.16, for a total value of $16,258,000.00.

Carvana Price Performance

Shares of NYSE CVNA traded down $9.03 during mid-day trading on Thursday, reaching $306.73. 3,580,770 shares of the company traded hands, compared to its average volume of 3,918,408. Carvana Co. has a fifty-two week low of $118.50 and a fifty-two week high of $351.43. The firm has a market cap of $65.68 billion, a PE ratio of 110.79, a price-to-earnings-growth ratio of 1.23 and a beta of 3.65. The stock has a fifty day simple moving average of $289.41 and a 200-day simple moving average of $244.02. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period last year, the company posted $0.23 EPS. The firm's quarterly revenue was up 38.3% on a year-over-year basis. Equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Brooklyn Investment Group lifted its stake in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after purchasing an additional 125 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after acquiring an additional 78 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in shares of Carvana during the 4th quarter worth $31,000. N.E.W. Advisory Services LLC acquired a new position in shares of Carvana in the 1st quarter worth $33,000. Finally, Venturi Wealth Management LLC raised its position in shares of Carvana by 79.2% during the fourth quarter. Venturi Wealth Management LLC now owns 224 shares of the company's stock worth $46,000 after purchasing an additional 99 shares during the period. Institutional investors own 56.71% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVNA. Wall Street Zen downgraded shares of Carvana from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Morgan Stanley lifted their price objective on shares of Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Stephens reissued an "overweight" rating and set a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. Robert W. Baird upped their target price on shares of Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Wells Fargo & Company raised their price target on shares of Carvana from $290.00 to $310.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $284.18.

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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