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 Carvana stock in a transaction 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 transaction, the chief executive officer directly owned 676,488 shares of the company's stock, valued at approximately $243,353,028.24. This represents a 0.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Carvana Trading Down 1.5%

Shares of NYSE CVNA traded down $5.10 during mid-day trading on Thursday, hitting $345.99. 2,130,945 shares of the company traded hands, compared to its average volume of 3,848,663. The company has a quick ratio of 2.70, a current ratio of 3.81 and a debt-to-equity ratio of 2.97. Carvana Co. has a 1 year low of $118.50 and a 1 year high of $364.00. The stock has a market capitalization of $74.09 billion, a price-to-earnings ratio of 121.40, a PEG ratio of 1.35 and a beta of 3.59. The business has a 50 day moving average of $312.35 and a two-hundred day moving average of $250.78.

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

Institutional Investors Weigh In On Carvana

Several hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group boosted its stake in 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 acquired a new position in Carvana in the 1st quarter worth approximately $33,000. Transce3nd LLC acquired a new position in Carvana in the 4th quarter worth approximately $48,000. Geneos Wealth Management Inc. boosted its stake in Carvana by 251.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock worth $53,000 after purchasing an additional 181 shares during the period. Finally, Versant Capital Management Inc boosted its stake in Carvana by 39.4% in the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock worth $61,000 after purchasing an additional 82 shares during the period. Hedge funds and other institutional investors own 56.71% of the company's stock.

Analyst Upgrades and Downgrades

CVNA has been the subject of a number of research reports. Stephens lifted their price objective on shares of Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a report on Monday. Wedbush raised shares of Carvana to a "hold" rating in a report on Thursday, May 8th. Robert W. Baird lifted their price objective on shares of Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Needham & Company LLC reissued a "buy" rating and set a $340.00 price target on shares of Carvana in a report on Thursday, May 8th. Finally, Evercore ISI boosted their price target on shares of Carvana from $295.00 to $305.00 and gave the company an "in-line" rating in a report on Tuesday, June 24th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.

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