Ernest Garcia III Sells 10,000 Shares of Carvana (NYSE:CVNA) Stock

Key Points

• CEO Ernest Garcia III sold 10,000 shares of Carvana stock at an average price of $373.76, totaling approximately $3.74 million, reducing his ownership by 2.43%.
• Carvana reported strong quarterly earnings, with an EPS of $1.28, surpassing estimates, and a 41.9% increase in revenue year-over-year.
• Recent analyst ratings for Carvana include an upgrade from Wall Street Zen from "hold" to "buy" and a price target increase from $400.00 to $460.00 by the Royal Bank of Canada.

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest Garcia III sold 10,000 shares of the firm's stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $373.76, for a total value of $3,737,600.00. Following the sale, the chief executive officer owned 401,440 shares in the company, valued at $150,042,214.40. This trade represents a 2.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Carvana Price Performance

Shares of NYSE:CVNA traded down $3.25 during trading on Thursday, reaching $371.56. 3,073,036 shares of the company's stock traded hands, compared to its average volume of 3,926,042. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $413.33. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. The firm has a market cap of $79.96 billion, a PE ratio of 93.12, a P/E/G ratio of 1.24 and a beta of 3.51. The company has a 50-day simple moving average of $358.66 and a 200-day simple moving average of $299.00.

Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.54 billion. During the same period last year, the firm earned ($0.05) EPS. The company's quarterly revenue was up 41.9% on a year-over-year basis. As a group, analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. J.Safra Asset Management Corp boosted its holdings in shares of Carvana by 140.8% during the 1st quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock worth $709,000 after purchasing an additional 1,982 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Carvana by 333.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock worth $740,000 after purchasing an additional 2,678 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Carvana during the 4th quarter worth approximately $36,527,000. Berkshire Capital Holdings Inc. boosted its holdings in shares of Carvana by 632,200.0% during the 1st quarter. Berkshire Capital Holdings Inc. now owns 63,230 shares of the company's stock worth $13,220,000 after purchasing an additional 63,220 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in shares of Carvana during the 4th quarter valued at approximately $1,153,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVNA has been the topic of a number of analyst reports. Royal Bank Of Canada raised their target price on Carvana from $400.00 to $460.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Wall Street Zen upgraded Carvana from a "hold" rating to a "buy" rating in a report on Saturday, September 20th. Bank of America lifted their price objective on Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. DA Davidson lifted their price objective on Carvana from $260.00 to $380.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Finally, William Blair reiterated an "outperform" rating on shares of Carvana in a report on Wednesday, July 23rd. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Carvana currently has a consensus rating of "Moderate Buy" and a consensus price target of $387.88.

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.

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