Ernest C. Garcia III Sells 4,234 Shares of Carvana Co. (NYSE:CVNA) Stock

Key Points

• Ernest C. Garcia III, the CEO of Carvana Co., sold 4,234 shares of the company at an average price of $329.49, totaling approximately $1.4 million, which represents a 0.70% decrease in his stock ownership.
• Carvana recently reported earnings of $1.28 per share for the quarter, exceeding the expected $1.09, and indicated a forecast of $2.85 earnings per share for the current year.
• The company has an average price target rating of $318.16, with over half of analysts rating the stock as a "buy" despite a significant debt-to-equity ratio of 2.97.

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 4,234 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $329.49, for a total transaction of $1,395,060.66. Following the completion of the transaction, the chief executive officer owned 604,323 shares of the company's stock, valued at approximately $199,118,385.27. The trade was a 0.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Carvana Price Performance

Shares of NYSE:CVNA traded down $3.04 during trading on Wednesday, hitting $333.46. 3,881,146 shares of the company were exchanged, compared to its average volume of 4,221,761. The company has a quick ratio of 2.70, a current ratio of 3.81 and a debt-to-equity ratio of 2.97. The company has a market capitalization of $71.41 billion, a P/E ratio of 117.00, a price-to-earnings-growth ratio of 1.30 and a beta of 3.59. Carvana Co. has a 1-year low of $118.50 and a 1-year high of $364.00. The business's 50 day moving average is $329.72 and its 200-day moving average is $264.40.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 2.68% and a return on equity of 44.86%. Equities analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Institutional Investors Weigh In On Carvana

Several large investors have recently added to or reduced their stakes in CVNA. Hilltop National Bank bought a new stake in Carvana in the 2nd quarter valued at about $25,000. SJS Investment Consulting Inc. increased its holdings in shares of Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company's stock valued at $36,000 after acquiring an additional 96 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Carvana during the second quarter valued at approximately $42,000. Brooklyn Investment Group grew its holdings in Carvana by 961.5% during the first 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. Finally, N.E.W. Advisory Services LLC bought a new stake in Carvana during the first quarter worth $33,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CVNA. Bank of America raised their price objective on shares of Carvana from $325.00 to $375.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. William Blair reiterated an "outperform" rating on shares of Carvana in a report on Wednesday, July 23rd. Wall Street Zen raised shares of Carvana from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Stephens boosted their target price on shares of Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Finally, JMP Securities set a $440.00 price target on Carvana and gave the company a "market outperform" rating in a report on Wednesday, July 2nd. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Carvana presently has an average rating of "Moderate Buy" and an average price target of $318.16.

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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