Ernest C. Garcia III Sells 7,300 Shares of Carvana Co. (NYSE:CVNA) Stock

Key Points

• Ernest C. Garcia III, CEO of Carvana Co., sold 7,300 shares at an average price of $389.63, totaling approximately $2.84 million, which represents a 1.22% decrease in his ownership.
• Carvana's stock experienced a 5.6% decline in value, trading at $368.39, with a significant trading volume of over 5 million shares.
• Analysts have mixed views on Carvana, with target prices ranging from $260 to $500, and a consensus rating of "Moderate Buy" based on fourteen buy and seven hold ratings.

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 7,300 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $389.63, for a total value of $2,844,299.00. Following the completion of the sale, the chief executive officer directly owned 592,790 shares in the company, valued at approximately $230,968,767.70. The trade was a 1.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Carvana Stock Down 5.6%

Shares of CVNA stock traded down $21.78 during mid-day trading on Friday, hitting $368.39. The company's stock had a trading volume of 5,040,022 shares, compared to its average volume of 4,274,298. Carvana Co. has a 52-week low of $118.50 and a 52-week high of $413.33. The business has a 50-day moving average price of $332.32 and a 200 day moving average price of $266.23. 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 cap of $78.89 billion, a price-to-earnings ratio of 92.33, a PEG ratio of 1.26 and a beta of 3.59.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.19. Carvana had a return on equity of 49.19% and a net margin of 3.46%. The firm had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.54 billion. During the same quarter in the previous year, the business earned ($0.05) earnings per share. The company's revenue was up 41.9% on a year-over-year basis. Research analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. DA Davidson boosted their target price on Carvana from $260.00 to $380.00 and gave the stock a "neutral" rating in a research report on Thursday. Citigroup reaffirmed an "outperform" rating on shares of Carvana in a research note on Thursday. JMP Securities set a $460.00 price objective on Carvana and gave the stock a "market outperform" rating in a research report on Thursday. Wedbush upgraded Carvana to a "hold" rating in a research report on Thursday, May 8th. Finally, Needham & Company LLC set a $500.00 price objective on Carvana and gave the stock a "buy" rating in a research report on Thursday. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $357.37.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CVNA. Hilltop National Bank purchased a new stake in Carvana during the second quarter valued at $25,000. Brooklyn Investment Group increased its position in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after acquiring an additional 125 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Carvana during the first quarter valued at $33,000. SJS Investment Consulting Inc. increased its position in 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 during the last quarter. Finally, LRI Investments LLC purchased a new stake in Carvana during the second quarter valued at $42,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.