Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 248 shares of the stock in a transaction dated Wednesday, July 9th. The shares were 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 owned 676,488 shares of the company's stock, valued at approximately $243,353,028.24. This trade represents a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Carvana Trading Down 0.6%
Shares of CVNA stock traded down $2.22 during mid-day trading on Friday, reaching $343.33. The stock had a trading volume of 1,873,600 shares, compared to its average volume of 3,815,864. The stock's 50-day moving average price is $315.96 and its two-hundred day moving average price is $252.66. Carvana Co. has a 52-week low of $118.50 and a 52-week high of $364.00. The firm has a market capitalization of $73.52 billion, a PE ratio of 120.47, a price-to-earnings-growth ratio of 1.34 and a beta of 3.59. 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 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 firm had revenue of $4.23 billion for 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 revenue for the quarter was up 38.3% compared to the same quarter last year. Equities analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
CVNA has been the subject of several research analyst reports. Evercore ISI raised their price target on shares of Carvana from $295.00 to $305.00 and gave the stock an "in-line" rating in a research note on Tuesday, June 24th. JPMorgan Chase & Co. reduced their price objective on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. 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. Bank of America raised their price target on shares of Carvana from $325.00 to $375.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, Piper Sandler set a $340.00 price target on shares of Carvana and gave the company an "overweight" rating in a report on Thursday, May 22nd. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $303.59.
Check Out Our Latest Stock Analysis on CVNA
Hedge Funds Weigh In On Carvana
Several hedge funds and other institutional investors have recently modified their holdings of CVNA. Jones Financial Companies Lllp boosted its stake in Carvana by 265.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,697 shares of the company's stock worth $345,000 after acquiring an additional 1,233 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Carvana by 51.0% during the fourth quarter. Victory Capital Management Inc. now owns 37,845 shares of the company's stock worth $7,696,000 after acquiring an additional 12,774 shares in the last quarter. Atria Investments Inc bought a new position in shares of Carvana in the fourth quarter worth approximately $240,000. Proficio Capital Partners LLC bought a new position in shares of Carvana in the fourth quarter worth approximately $23,655,000. Finally, Amundi lifted its stake in shares of Carvana by 154.5% in the fourth quarter. Amundi now owns 234,786 shares of the company's stock worth $46,253,000 after buying an additional 142,537 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.
About Carvana
(
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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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