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 on Thursday, July 17th. The shares were sold at an average price of $349.59, for a total value of $3,495,900.00. Following the transaction, the chief executive officer directly owned 641,440 shares in the company, valued at $224,241,009.60. The trade was a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Carvana Price Performance

Shares of Carvana stock traded up $1.15 during trading hours on Friday, reaching $347.25. The stock had a trading volume of 2,796,650 shares, compared to its average volume of 3,776,570. The stock's 50 day moving average is $324.19 and its 200 day moving average is $257.42. The firm has a market capitalization of $74.36 billion, a PE ratio of 121.84, a PEG ratio of 1.36 and a beta of 3.59. Carvana Co. has a twelve month low of $118.50 and a twelve month 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.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.51 EPS 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 business had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. During the same quarter in the previous year, the company earned $0.23 earnings per share. The company's quarterly revenue was up 38.3% on a year-over-year basis. Equities analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVNA. Needham & Company LLC reiterated a "buy" rating and issued a $340.00 price target on shares of Carvana in a research note on Thursday, May 8th. JMP Securities set a $440.00 price objective on Carvana and gave the company a "market outperform" rating in a research report on Wednesday, July 2nd. Morgan Stanley raised their price objective on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Royal Bank Of Canada raised their price objective on Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded Carvana from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Carvana currently has an average rating of "Moderate Buy" and a consensus target price of $309.44.

Institutional Investors Weigh In On Carvana

A number of large investors have recently modified their holdings of CVNA. Price T Rowe Associates Inc. MD grew its position in Carvana by 13.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock worth $3,125,749,000 after purchasing an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. lifted its stake 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 during the period. Norges Bank acquired a new stake in shares of Carvana in the fourth quarter valued at about $179,364,000. Castle Hook Partners LP acquired a new stake in shares of Carvana in the fourth quarter valued at about $116,020,000. Finally, BNP Paribas Financial Markets raised its position in Carvana by 89.8% during the fourth quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock worth $207,086,000 after acquiring an additional 481,912 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other 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.