Ernest C. Garcia III Sells 96 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 96 shares of the stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $360.42, for a total transaction of $34,600.32. Following the completion of the transaction, the chief executive officer directly owned 676,440 shares of the company's stock, valued at $243,802,504.80. This trade represents a 0.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Carvana Trading Down 1.5%

Shares of Carvana stock traded down $5.10 on Thursday, hitting $345.99. 2,130,945 shares of the company's stock traded hands, compared to its average volume of 3,848,663. Carvana Co. has a one year low of $118.50 and a one year high of $364.00. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70. The company has a fifty day moving average of $312.35 and a two-hundred day moving average of $250.78. The company has a market capitalization of $74.09 billion, a price-to-earnings ratio of 121.40, a price-to-earnings-growth ratio of 1.35 and a beta of 3.59.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.75 by $0.76. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the prior year, the company earned $0.23 EPS. The firm's revenue for the quarter was up 38.3% compared to the same quarter last year. As a group, sell-side analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Institutional Investors Weigh In On Carvana

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its position in shares of Carvana by 82.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,533 shares of the company's stock valued at $1,579,000 after purchasing an additional 2,051 shares in the last quarter. Mn Services Vermogensbeheer B.V. acquired a new position in Carvana during the 2nd quarter worth approximately $15,231,000. Wedmont Private Capital raised its stake in Carvana by 12.7% during the 2nd quarter. Wedmont Private Capital now owns 1,680 shares of the company's stock worth $590,000 after buying an additional 189 shares during the period. Swedbank AB raised its stake in Carvana by 21.3% during the 2nd quarter. Swedbank AB now owns 83,688 shares of the company's stock worth $28,200,000 after buying an additional 14,675 shares during the period. Finally, Baader Bank Aktiengesellschaft raised its stake in Carvana by 102.8% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,423 shares of the company's stock worth $451,000 after buying an additional 51,423 shares during the period. Institutional investors own 56.71% of the company's stock.

Analyst Ratings Changes

CVNA has been the subject of several research reports. Citigroup increased their price objective on shares of Carvana from $325.00 to $415.00 and gave the company a "buy" rating in a research note on Tuesday. Stephens boosted their price target on Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a report on Monday. Wall Street Zen upgraded Carvana from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Morgan Stanley boosted their price target on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Finally, Needham & Company LLC restated a "buy" rating and set a $340.00 price target on shares of Carvana in a report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Carvana presently has a consensus rating of "Moderate Buy" and a consensus price target of $303.59.

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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