Ernest C. Garcia III Sells 5,766 Shares of Carvana Co. (NYSE:CVNA) Stock

Key Points

• Ernest C. Garcia III, CEO of Carvana, sold **5,766 shares** of the company at an average price of **$334.98**, totaling **$1,931,494.68**, reducing his ownership by **0.95%**.
• Carvana's stock is currently valued at **$333.46**, reflecting a **0.9% drop** in trading, with a market capitalization of **$71.41 billion** and a significant **debt-to-equity ratio** of **2.97**.
• Brokerage recommendations are largely positive, with analysts issuing a **"Moderate Buy"** rating and an average price target of **$318.16** following increased price objectives from firms like Citigroup and Needham & Company.

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 5,766 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $334.98, for a total value of $1,931,494.68. Following the transaction, the chief executive officer directly owned 601,440 shares in the company, valued at approximately $201,470,371.20. This represents a 0.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Carvana Stock Down 0.9%

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

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 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%. On average, analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CVNA. Citigroup lifted their price objective on Carvana from $325.00 to $415.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Wall Street Zen upgraded shares of Carvana from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Needham & Company LLC restated a "buy" rating and issued a $340.00 target price on shares of Carvana in a report on Thursday, May 8th. Royal Bank Of Canada upped their price objective on Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, Evercore ISI boosted their price target on Carvana from $295.00 to $305.00 and gave the company an "in-line" rating in a research report on Tuesday, June 24th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $318.16.

Institutional Investors Weigh In On Carvana

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of Carvana by 13.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock worth $3,125,749,000 after purchasing an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock valued at $2,620,785,000 after buying an additional 1,109,476 shares in the last quarter. Castle Hook Partners LP acquired a new position in Carvana during the fourth quarter worth $116,020,000. BNP Paribas Financial Markets grew its position in shares of Carvana by 89.8% in the 4th quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock valued at $207,086,000 after acquiring an additional 481,912 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Carvana during the 4th quarter worth about $86,636,000. 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.

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