Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III Sells 9,656 Shares

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 9,656 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $348.45, for a total value of $3,364,633.20. Following the completion of the sale, the chief executive officer owned 676,612 shares of the company's stock, valued at approximately $235,765,451.40. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Carvana Price Performance

Shares of Carvana stock traded up $0.17 during trading hours on Friday, hitting $345.72. The company's stock had a trading volume of 860,398 shares, compared to its average volume of 3,822,886. The business has a 50 day moving average price of $314.24 and a two-hundred day moving average price of $251.63. Carvana Co. has a 12-month low of $118.50 and a 12-month high of $364.00. The company has a market cap of $74.03 billion, a PE ratio of 121.45, a PEG ratio of 1.37 and a beta of 3.59. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the previous year, the business earned $0.23 earnings per share. The business's revenue was up 38.3% on a year-over-year basis. Analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carvana

Several large investors have recently made changes to their positions in CVNA. J.Safra Asset Management Corp lifted its position in shares of Carvana by 140.8% in the first quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock worth $709,000 after buying an additional 1,982 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in shares of Carvana in the fourth quarter worth about $51,091,000. Farther Finance Advisors LLC increased its stake in Carvana by 333.1% during the first quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock worth $740,000 after acquiring an additional 2,678 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Carvana during the fourth quarter worth approximately $36,527,000. Finally, Brucke Financial Inc. bought a new stake in Carvana during the fourth quarter worth approximately $415,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on CVNA. Evercore ISI raised their target price on Carvana from $295.00 to $305.00 and gave the company an "in-line" rating in a research note on Tuesday, June 24th. Wedbush upgraded Carvana to a "hold" rating in a research note on Thursday, May 8th. Wall Street Zen upgraded Carvana from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. JPMorgan Chase & Co. reduced their target price on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Finally, Morgan Stanley lifted their target price on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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.