Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 6,244 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $356.73, for a total value of $2,227,422.12. Following the completion of the sale, the chief executive officer owned 681,440 shares in the company, valued at $243,090,091.20. The trade was a 0.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Carvana Stock Performance
NYSE CVNA traded down $2.22 during trading on Friday, hitting $343.33. 1,873,600 shares of the company's stock traded hands, compared to its average volume of 3,828,148. 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 stock has a market capitalization of $73.52 billion, a price-to-earnings ratio of 120.47, a PEG ratio of 1.35 and a beta of 3.59. Carvana Co. has a 12-month low of $118.50 and a 12-month high of $364.00. The business has a 50 day moving average of $315.96 and a 200-day moving average of $252.46.
Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results 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. The business had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The business's revenue for the quarter was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 EPS. As a group, equities research analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.
Institutional Trading of Carvana
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group grew its holdings in Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after buying an additional 125 shares in the last quarter. Rialto Wealth Management LLC bought a new position in shares of Carvana in the fourth quarter valued at approximately $31,000. N.E.W. Advisory Services LLC purchased a new position in Carvana during the first quarter valued at approximately $33,000. Transce3nd LLC purchased a new position in Carvana during the fourth quarter valued at approximately $48,000. Finally, Geneos Wealth Management Inc. increased its holdings 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 acquiring an additional 181 shares during the period. 56.71% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research firms recently issued reports on CVNA. Citigroup boosted their target price 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 restated a "buy" rating and set a $340.00 target price on shares of Carvana in a research report on Thursday, May 8th. Wall Street Zen raised Carvana from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Piper Sandler set a $340.00 price target on Carvana and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Finally, Bank of America raised their price objective on shares of Carvana from $325.00 to $375.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $303.59.
View Our Latest Research Report on Carvana
Carvana Company Profile
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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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