Ernest C. Garcia III Sells 10,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $325.11, for a total transaction of $3,251,100.00. Following the completion of the transaction, the chief executive officer now directly owns 716,440 shares in the company, valued at $232,921,808.40. This trade represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Carvana Trading Up 4.4%

CVNA traded up $13.39 during trading on Friday, reaching $319.87. 7,936,045 shares of the company's stock were exchanged, compared to its average volume of 3,924,750. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97. Carvana Co. has a one year low of $118.50 and a one year high of $351.43. The firm has a fifty day moving average price of $291.33 and a two-hundred day moving average price of $244.45. The stock has a market capitalization of $68.50 billion, a PE ratio of 107.54, a price-to-earnings-growth ratio of 1.19 and a beta of 3.65.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.76. The company had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. Carvana had a net margin of 2.68% and a return on equity of 44.86%. Carvana's revenue for the quarter was up 38.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share. As a group, equities research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Brooklyn Investment Group grew its position in shares of Carvana by 961.5% during 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 period. Global Retirement Partners LLC grew its holdings in shares of Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after buying an additional 78 shares during the last quarter. Rialto Wealth Management LLC bought a new stake in shares of Carvana during the fourth quarter worth about $31,000. N.E.W. Advisory Services LLC bought a new stake in shares of Carvana during the first quarter worth about $33,000. Finally, Transce3nd LLC acquired a new stake in shares of Carvana in the 4th quarter worth about $48,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Robert W. Baird lifted their price target on Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Morgan Stanley lifted 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. Wall Street Zen downgraded Carvana from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Bank of America raised their price target on shares of Carvana from $325.00 to $375.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $340.00 price target on shares of Carvana in a report on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $284.18.

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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