Carvana Co. (NYSE:CVNA) CEO Sells $3,486,800.00 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 Wednesday, July 9th. The shares were 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 in the company, valued at $234,117,699.20. This represents a 1.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Carvana Price Performance

CVNA traded down $2.22 during trading on Friday, reaching $343.33. 1,873,600 shares of the company traded hands, compared to its average volume of 3,828,148. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. Carvana Co. has a 12-month low of $118.50 and a 12-month high of $364.00. The firm has a fifty day simple moving average of $315.96 and a 200 day simple moving average of $252.46. The company has a market cap of $73.52 billion, a P/E ratio of 120.47, a PEG ratio of 1.35 and a beta of 3.59.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period last year, the firm posted $0.23 EPS. The company's revenue was up 38.3% on a year-over-year basis. On average, equities analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently added to or reduced their stakes in CVNA. Price T Rowe Associates Inc. MD grew 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 in the last quarter. Vanguard Group Inc. grew its holdings in shares of Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock valued at $2,620,785,000 after purchasing an additional 1,109,476 shares in the last quarter. Norges Bank purchased a new position in shares of Carvana in the fourth quarter valued at $179,364,000. Castle Hook Partners LP purchased a new position in shares of Carvana in the fourth quarter valued at $116,020,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Carvana by 89.8% in the fourth quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock valued at $207,086,000 after purchasing an additional 481,912 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CVNA shares. Needham & Company LLC reiterated a "buy" rating and issued a $340.00 price objective on shares of Carvana in a research note on Thursday, May 8th. Stephens increased their price objective on shares of Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a research note on Monday. Royal Bank Of Canada increased their price objective on shares of Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. lowered their price objective on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Finally, Bank of America increased their price objective on shares of Carvana from $325.00 to $375.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Carvana presently has a consensus rating of "Moderate Buy" and a consensus target price of $303.59.

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.