Carvana Co. (NYSE:CVNA) CEO Sells $3,444,500.00 in Stock

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 10,000 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $344.45, for a total value of $3,444,500.00. Following the completion of the transaction, the chief executive officer now owns 775,000 shares in the company, valued at $266,948,750. This represents a 1.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Carvana Price Performance

Shares of NYSE CVNA traded down $2.55 during trading on Tuesday, reaching $337.36. The company had a trading volume of 1,644,011 shares, compared to its average volume of 3,940,188. Carvana Co. has a 52 week low of $100.05 and a 52 week high of $351.43. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The stock has a market cap of $72.24 billion, a PE ratio of 214.83 and a beta of 3.65. The business's 50 day moving average price is $260.79 and its 200-day moving average price is $238.98.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.76. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Carvana's revenue for the quarter was up 38.3% on a year-over-year basis. During the same period last year, the company posted $0.23 EPS. Analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

CVNA has been the topic of a number of recent research reports. DA Davidson raised their price target on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Bank of America upped their price target on shares of Carvana from $325.00 to $375.00 and gave the company a "buy" rating in a report on Tuesday. Stephens reissued an "overweight" rating and set a $300.00 price objective on shares of Carvana in a research report on Monday, March 3rd. Citigroup upped their price target on Carvana from $280.00 to $325.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Evercore ISI cut their target price on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a research note on Tuesday, March 11th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Carvana has a consensus rating of "Moderate Buy" and a consensus price target of $280.35.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock valued at $3,125,749,000 after purchasing an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. raised its holdings in Carvana by 9.7% during the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock worth $2,620,785,000 after acquiring an additional 1,109,476 shares in the last quarter. Lingotto Investment Management LLP boosted its position in Carvana by 1.5% during the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock valued at $810,827,000 after purchasing an additional 57,215 shares during the last quarter. Durable Capital Partners LP grew its stake in Carvana by 6.3% in the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock valued at $440,932,000 after purchasing an additional 129,246 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Carvana by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock worth $381,592,000 after purchasing an additional 75,250 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors.

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.