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Carvana Co. (NYSE:CVNA) Major Shareholder Sells $16,353,500.00 in Stock

Carvana logo with Retail/Wholesale background

Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 50,000 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $327.07, for a total transaction of $16,353,500.00. Following the transaction, the insider owned 36,737,346 shares of the company's stock, valued at approximately $12,015,683,756.22. This represents a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Ernest C. Garcia II also recently made the following trade(s):

  • On Wednesday, June 25th, Ernest C. Garcia II sold 4,971 shares of Carvana stock. The stock was sold at an average price of $325.15, for a total value of $1,616,320.65.
  • 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 value 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 transaction of $16,513,500.00.
  • On Friday, June 6th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $346.99, for a total transaction of $34,699,000.00.
  • On Wednesday, June 4th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $339.58, for a total transaction of $16,979,000.00.
  • On Monday, June 2nd, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was 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 shares were sold at an average price of $325.16, for a total value of $16,258,000.00.

Carvana Price Performance

CVNA traded up $5.12 on Thursday, hitting $348.51. 1,542,889 shares of the stock were exchanged, compared to its average volume of 3,860,027. The firm has a market capitalization of $74.63 billion, a price-to-earnings ratio of 122.28, a PEG ratio of 1.34 and a beta of 3.59. 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 Co. has a 12 month low of $118.50 and a 12 month high of $351.43. The business has a 50-day moving average of $303.62 and a two-hundred day moving average of $247.55.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.75 by $0.76. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The company had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. During the same period in the previous year, the company earned $0.23 EPS. The business's revenue for the quarter was up 38.3% compared to the same quarter last year. Sell-side analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Evercore ISI boosted their target price on Carvana from $295.00 to $305.00 and gave the stock an "in-line" rating in a report on Tuesday, June 24th. JPMorgan Chase & Co. dropped their price objective on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Bank of America lifted their target price on shares of Carvana from $325.00 to $375.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Royal Bank Of Canada raised their price objective on shares of Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, Wedbush upgraded Carvana to a "hold" rating in a report on Thursday, May 8th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $293.88.

Get Our Latest Research Report on Carvana

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Brooklyn Investment Group boosted its holdings in shares of Carvana by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after purchasing an additional 125 shares in the last quarter. Rialto Wealth Management LLC acquired a new stake in Carvana in the fourth quarter valued at about $31,000. N.E.W. Advisory Services LLC acquired a new stake in Carvana in the first quarter valued at about $33,000. Transce3nd LLC bought a new position in Carvana in the fourth quarter valued at about $48,000. Finally, Geneos Wealth Management Inc. raised its stake in Carvana by 251.4% during the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock worth $53,000 after acquiring an additional 181 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

Carvana Company Profile

(Get Free Report)

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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