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 company's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $347.28, for a total value of $3,472,800.00. Following the completion of the sale, the chief executive officer directly owned 661,440 shares in the company, valued at $229,704,883.20. This trade represents a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Carvana Trading Up 1.2%

Shares of NYSE CVNA traded up $4.18 on Monday, reaching $347.85. 1,954,292 shares of the company traded hands, compared to its average volume of 4,353,841. The stock has a market capitalization of $74.49 billion, a PE ratio of 122.05, a P/E/G ratio of 1.34 and a beta of 3.59. Carvana Co. has a fifty-two week low of $118.50 and a fifty-two week high of $364.00. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97. The company has a 50 day moving average of $315.96 and a 200 day moving average of $252.86.

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

Wall Street Analysts Forecast Growth

CVNA has been the topic of several recent research reports. Stephens boosted their price objective on shares of Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Gordon Haskett initiated coverage on shares of Carvana in a research report on Monday. They issued a "hold" rating and a $329.00 price target on the stock. Robert W. Baird lifted their price objective on Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Bank of America upped their target price on Carvana from $325.00 to $375.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, Morgan Stanley raised their price target on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Seven 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 a consensus rating of "Moderate Buy" and a consensus target price of $305.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVNA. Brooklyn Investment Group raised its holdings in shares of 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 purchased a new stake in shares of Carvana during the 1st quarter worth about $33,000. Transce3nd LLC acquired a new stake in Carvana during the 4th quarter worth approximately $48,000. Geneos Wealth Management Inc. raised its holdings in Carvana by 251.4% in 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 period. Finally, Versant Capital Management Inc raised its holdings in Carvana by 39.4% in 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 period. Institutional investors and hedge funds own 56.71% of the company's stock.

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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