Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 6,244 shares of Carvana stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $356.73, for a total transaction of $2,227,422.12. Following the completion of the sale, the chief executive officer owned 681,440 shares of the company's stock, valued at $243,090,091.20. This trade represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Carvana Stock Performance
Shares of NYSE:CVNA traded up $4.69 during trading on Wednesday, hitting $350.61. 1,901,321 shares of the stock traded hands, compared to its average volume of 3,855,526. 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 cap of $75.08 billion, a price-to-earnings ratio of 123.02, a P/E/G ratio of 1.35 and a beta of 3.59. The company has a fifty day moving average price of $312.35 and a two-hundred day moving average price of $250.78. Carvana Co. has a 52-week low of $118.50 and a 52-week high of $364.00.
Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate 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 business's quarterly revenue was up 38.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 EPS. As a group, equities analysts predict that Carvana Co. will post 2.85 EPS for the current year.
Analysts Set New Price Targets
A number of analysts recently commented on CVNA shares. Citigroup lifted their target price on shares of Carvana from $325.00 to $415.00 and gave the stock a "buy" rating in a research note on Tuesday. Needham & Company LLC reiterated a "buy" rating and issued a $340.00 target price on shares of Carvana in a research note on Thursday, May 8th. Wedbush raised shares of Carvana to a "hold" rating in a research report on Thursday, May 8th. Robert W. Baird raised their price target on shares of Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Stephens raised their price target on shares of Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $303.59.
Check Out Our Latest Stock Report on CVNA
Hedge Funds Weigh In On Carvana
Institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in Carvana by 13.9% in 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 acquiring an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. increased its holdings in Carvana by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock worth $2,620,785,000 after acquiring an additional 1,109,476 shares in the last quarter. Durable Capital Partners LP increased its holdings in Carvana by 6.3% in the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock worth $440,932,000 after acquiring an additional 129,246 shares in the last quarter. Geode Capital Management LLC increased its holdings in Carvana by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock worth $381,592,000 after acquiring an additional 75,250 shares in the last quarter. Finally, Whale Rock Capital Management LLC increased its holdings in Carvana by 29.8% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company's stock worth $247,017,000 after acquiring an additional 278,760 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.
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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