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 sale, the chief executive officer directly owned 676,488 shares of the company's stock, valued at $243,353,028.24. This represents a 0.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Carvana Stock Down 0.6%
NYSE CVNA traded down $2.22 on Friday, reaching $343.33. The company had a trading volume of 1,873,600 shares, compared to its average volume of 3,828,148. The firm has a market capitalization of $73.52 billion, a price-to-earnings ratio of 120.47, a price-to-earnings-growth ratio of 1.35 and a beta of 3.59. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. Carvana Co. has a 1-year low of $118.50 and a 1-year high of $364.00. The company's fifty day moving average is $315.96 and its 200-day moving average is $252.46.
Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. The firm had revenue of $4.23 billion during 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%. The company's revenue for the quarter was up 38.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 EPS. On average, research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Carvana
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brooklyn Investment Group lifted its position in Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after buying an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in Carvana during the 1st quarter worth about $33,000. Transce3nd LLC bought a new stake in Carvana during the 4th quarter worth about $48,000. Geneos Wealth Management Inc. lifted its position in Carvana by 251.4% during the 1st 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 position in Carvana by 39.4% during the 1st 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. 56.71% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of Carvana from $325.00 to $415.00 and gave the company a "buy" rating in a report on Tuesday. Needham & Company LLC reaffirmed a "buy" rating and set a $340.00 price objective on shares of Carvana in a research note on Thursday, May 8th. JPMorgan Chase & Co. dropped their price objective on Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. JMP Securities set a $440.00 price objective on Carvana and gave the stock a "market outperform" rating in a research note on Wednesday, July 2nd. Finally, Stephens raised their price objective on Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Carvana currently has a consensus rating of "Moderate Buy" and an average target price of $303.59.
Check Out Our Latest Report on Carvana
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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