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Ernest C. Garcia II Sells 50,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana logo with Retail/Wholesale background

Key Points

  • Ernest C. Garcia II, major shareholder of Carvana Co., sold **50,000 shares** at an average price of **$332.21**, totaling **$16.6 million**, while retaining over **35 million shares** after the sale.
  • Carvana reported **$1.28 earnings per share (EPS)** for the last quarter, exceeding analysts' expectations of **$1.09**, alongside a year-over-year revenue increase of **41.9%**.
  • Analysts have generally rated Carvana positively, with **14 buy ratings** and a target price increase from various firms, including **Oppenheimer** which set a target of **$450**.
  • Interested in Carvana? Here are five stocks we like better.

Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 50,000 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $332.21, for a total value of $16,610,500.00. Following the transaction, the insider directly owned 35,342,792 shares of the company's stock, valued at $11,741,228,930.32. The trade was a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

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

  • On Monday, July 28th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $335.66, for a total value of $16,783,000.00.
  • On Friday, July 25th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $335.34, for a total transaction of $16,767,000.00.
  • On Wednesday, July 23rd, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $337.22, for a total transaction of $16,861,000.00.
  • On Monday, July 21st, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $342.96, for a total transaction of $17,148,000.00.
  • On Friday, July 18th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $341.08, for a total transaction of $17,054,000.00.
  • On Wednesday, July 16th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $352.40, for a total transaction of $35,240,000.00.
  • On Tuesday, July 15th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $343.97, for a total value of $17,198,500.00.
  • On Monday, July 14th, Ernest C. Garcia II sold 98,528 shares of Carvana stock. The shares were sold at an average price of $349.77, for a total value of $34,462,138.56.
  • On Friday, July 11th, Ernest C. Garcia II sold 96,026 shares of Carvana stock. The stock was sold at an average price of $348.75, for a total value of $33,489,067.50.
  • On Thursday, July 10th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $352.36, for a total transaction of $35,236,000.00.

Carvana Price Performance

CVNA stock traded up $56.75 during midday trading on Thursday, hitting $390.34. 10,873,990 shares of the stock were exchanged, compared to its average volume of 2,444,718. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. The stock has a market cap of $83.59 billion, a price-to-earnings ratio of 83.61, a PEG ratio of 1.26 and a beta of 3.59. Carvana Co. has a fifty-two week low of $118.50 and a fifty-two week high of $413.34. The stock's 50-day moving average price is $330.55 and its 200-day moving average price is $264.88.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. The firm had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 49.19%. The firm's revenue was up 41.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.05) EPS. Research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Morgan Stanley upped their target price on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Oppenheimer upgraded shares of Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 target price on the stock in a research report on Friday, July 25th. Piper Sandler upped their price target on shares of Carvana from $340.00 to $440.00 and gave the company an "overweight" rating in a research report on Thursday. Evercore ISI raised their price objective on shares of Carvana from $295.00 to $305.00 and gave the stock an "in-line" rating in a research report on Tuesday, June 24th. Finally, Wedbush raised shares of 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 fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $357.37.

Check Out Our Latest Research Report on Carvana

Hedge Funds Weigh In On Carvana

Institutional investors have recently made changes to their positions in the stock. Sei Investments Co. boosted its stake in shares of Carvana by 83.9% during the 4th quarter. Sei Investments Co. now owns 25,918 shares of the company's stock worth $5,270,000 after purchasing an additional 11,826 shares during the last quarter. LPL Financial LLC raised its position in shares of Carvana by 7.7% in the 4th quarter. LPL Financial LLC now owns 42,745 shares of the company's stock worth $8,693,000 after buying an additional 3,067 shares during the period. Pictet Asset Management Holding SA grew its holdings in shares of Carvana by 215.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 43,920 shares of the company's stock worth $8,932,000 after purchasing an additional 30,013 shares during the period. Orion Portfolio Solutions LLC grew its stake in Carvana by 8.9% during the fourth quarter. Orion Portfolio Solutions LLC now owns 2,038 shares of the company's stock worth $414,000 after buying an additional 167 shares during the period. Finally, Schroder Investment Management Group acquired a new stake in Carvana in the 4th quarter valued at $642,000. 56.71% of the stock is owned by institutional investors and hedge funds.

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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