Carvana Co. (NYSE:CVNA) CEO Sells $3,439,700.00 in Stock

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $343.97, for a total value of $3,439,700.00. Following the completion of the transaction, the chief executive officer owned 651,440 shares in the company, valued at $224,075,816.80. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Carvana Stock Performance

NYSE:CVNA traded down $4.32 during trading hours on Thursday, reaching $347.70. The company had a trading volume of 1,374,651 shares, compared to its average volume of 3,785,469. Carvana Co. has a 1-year low of $118.50 and a 1-year high of $364.00. The firm has a market cap of $74.46 billion, a PE ratio of 121.97, a price-to-earnings-growth ratio of 1.36 and a beta of 3.59. The business's 50 day moving average price is $321.39 and its 200-day moving average price is $255.12. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.76. The business had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The business's revenue was up 38.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 earnings per share. Research analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Institutional Trading of Carvana

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Yousif Capital Management LLC increased its position in shares of Carvana by 4.1% in the first quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock valued at $265,000 after buying an additional 50 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Carvana by 5.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company's stock worth $256,000 after purchasing an additional 60 shares in the last quarter. Commerce Bank increased its position in shares of Carvana by 1.6% during the first quarter. Commerce Bank now owns 4,446 shares of the company's stock worth $930,000 after purchasing an additional 69 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Carvana by 3.3% during the first quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company's stock worth $466,000 after purchasing an additional 72 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Carvana by 21.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock worth $87,000 after purchasing an additional 74 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wedbush upgraded Carvana to a "hold" rating in a research note on Thursday, May 8th. Citigroup boosted their price target on Carvana from $325.00 to $415.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. JMP Securities set a $440.00 price target on Carvana and gave the stock a "market outperform" rating in a research note on Wednesday, July 2nd. Robert W. Baird boosted their price target on Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Evercore ISI boosted their price target on Carvana from $295.00 to $305.00 and gave the stock an "in-line" rating in a research note on Tuesday, June 24th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Carvana has an average rating of "Moderate Buy" and an average price target of $305.00.

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.