Ernest C. Garcia III Sells 248 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 248 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $359.73, for a total transaction of $89,213.04. Following the completion of the sale, the chief executive officer directly owned 676,488 shares of the company's stock, valued at $243,353,028.24. The trade was a 0.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Carvana Stock Performance

Carvana stock traded up $0.17 during mid-day trading on Friday, reaching $345.72. 860,398 shares of the company traded hands, compared to its average volume of 3,822,886. 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 fifty-two week low of $118.50 and a fifty-two week high of $364.00. The company has a market capitalization of $74.03 billion, a price-to-earnings ratio of 121.45, a price-to-earnings-growth ratio of 1.37 and a beta of 3.59. The firm's fifty day moving average is $314.24 and its two-hundred day moving average is $251.63.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 EPS. On average, equities research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on CVNA. JMP Securities set a $440.00 price target on shares of Carvana and gave the stock a "market outperform" rating in a research report on Wednesday, July 2nd. Citigroup upped their price target on shares of Carvana from $325.00 to $415.00 and gave the stock a "buy" rating in a research report on Tuesday. Wells Fargo & Company upped their price target on shares of Carvana from $290.00 to $310.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Stephens increased their target price on shares of Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a research report on Monday. Finally, Robert W. Baird increased their target price on shares of Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $303.59.

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group increased its stake in shares of Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after acquiring an additional 125 shares during the period. N.E.W. Advisory Services LLC purchased a new position in Carvana during the first quarter valued at $33,000. Transce3nd LLC purchased a new position in Carvana during the fourth quarter valued at $48,000. Geneos Wealth Management Inc. lifted its stake in shares of Carvana by 251.4% in the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock worth $53,000 after buying an additional 181 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Carvana by 39.4% in the first quarter. Versant Capital Management Inc now owns 290 shares of the company's stock worth $61,000 after buying an additional 82 shares in the last quarter. 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.