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 the stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $348.68, for a total transaction of $3,486,800.00. Following the transaction, the chief executive officer owned 671,440 shares of the company's stock, valued at approximately $234,117,699.20. This represents a 1.47% 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.

Carvana Trading Down 1.5%

Shares of Carvana stock traded down $5.10 during trading on Thursday, hitting $345.99. The company's stock had a trading volume of 2,130,945 shares, compared to its average volume of 3,848,663. 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 52 week low of $118.50 and a 52 week high of $364.00. The stock has a market cap of $74.09 billion, a price-to-earnings ratio of 121.40, a price-to-earnings-growth ratio of 1.35 and a beta of 3.59. The stock has a 50-day moving average price of $312.35 and a two-hundred day moving average price of $250.78.

Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the prior year, the business posted $0.23 EPS. The firm's revenue was up 38.3% compared to the same quarter last year. Equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CVNA. Morgan Stanley raised their target price on shares of Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Needham & Company LLC reissued a "buy" rating and issued a $340.00 price target on shares of Carvana in a report on Thursday, May 8th. Robert W. Baird increased their price target on shares of Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Wells Fargo & Company increased their price target on shares of Carvana from $290.00 to $310.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $303.59.

Institutional Trading of Carvana

Several institutional investors and hedge funds have recently bought and sold shares of CVNA. Brooklyn Investment Group raised its position in Carvana by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after purchasing an additional 125 shares during the period. N.E.W. Advisory Services LLC bought a new position in shares of Carvana in the first quarter worth approximately $33,000. Transce3nd LLC purchased a new position in shares of Carvana during the fourth quarter valued at approximately $48,000. Geneos Wealth Management Inc. increased its holdings in Carvana by 251.4% during the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock valued at $53,000 after buying an additional 181 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in Carvana by 39.4% during the first quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after buying an additional 82 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

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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