Carvana (NYSE:CVNA) CEO Sells $3,713,600.00 in Stock

Key Points

• Carvana CEO Ernest Garcia III sold 10,000 shares of the company's stock for a total of $3,713,600, reducing his ownership by 2.12%.
• Carvana's stock recently traded at $375.06, with analysts giving the stock a consensus rating of "Moderate Buy" and a target price of $383.47.
• Carvana reported a 41.9% increase in quarterly revenue year-over-year, with an EPS of $1.28 exceeding estimates by $0.19.

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 10,000 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $371.36, for a total value of $3,713,600.00. Following the completion of the transaction, the chief executive officer directly owned 456,440 shares in the company, valued at $169,503,558.40. The trade was a 2.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Carvana Trading Up 2.1%

Shares of Carvana stock traded up $7.42 on Friday, hitting $361.66. 2,873,000 shares of the company's stock traded hands, compared to its average volume of 3,983,681. The firm's 50-day moving average price is $353.80 and its two-hundred day moving average price is $289.02. The stock has a market capitalization of $77.83 billion, a PE ratio of 90.64, a price-to-earnings-growth ratio of 1.21 and a beta of 3.51. Carvana Co. has a one year low of $140.23 and a one year high of $413.33. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. The business had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The firm's quarterly revenue was up 41.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. On average, research analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CVNA has been the topic of several recent research reports. Needham & Company LLC raised their target price on shares of Carvana from $340.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. JMP Securities boosted their target price on shares of Carvana from $440.00 to $460.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. Oppenheimer upgraded shares of Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price objective on the stock in a report on Friday, July 25th. William Blair restated an "outperform" rating on shares of Carvana in a report on Wednesday, July 23rd. Finally, Citigroup restated an "outperform" rating on shares of Carvana in a report on Thursday, July 31st. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $383.47.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Comerica Bank lifted its stake in Carvana by 6.1% in the fourth quarter. Comerica Bank now owns 2,629 shares of the company's stock worth $535,000 after purchasing an additional 151 shares during the last quarter. CoreCap Advisors LLC raised its stake in Carvana by 84.6% in the fourth quarter. CoreCap Advisors LLC now owns 971 shares of the company's stock worth $197,000 after buying an additional 445 shares in the last quarter. Deutsche Bank AG raised its position in shares of Carvana by 543.8% in the 4th quarter. Deutsche Bank AG now owns 288,343 shares of the company's stock worth $58,637,000 after purchasing an additional 243,553 shares during the last quarter. Ethic Inc. increased its position in shares of Carvana by 146.9% during the fourth quarter. Ethic Inc. now owns 7,033 shares of the company's stock valued at $1,430,000 after acquiring an additional 4,184 shares in the last quarter. Finally, Ensign Peak Advisors Inc increased its position in shares of Carvana by 32.9% during the fourth quarter. Ensign Peak Advisors Inc now owns 41,230 shares of the company's stock valued at $8,385,000 after acquiring an additional 10,212 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

About Carvana

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.