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

Key Points

• Carvana Co. CEO Ernest C. Garcia III sold 10,000 shares of the company's stock for a total of $3,362,300, reducing his ownership by 1.62% to about 606,440 shares valued at over $203 million.
• The company's stock has demonstrated significant volatility, with a 12-month range between $118.50 and $364.00, currently trading at approximately $333.46.
• Recently, multiple institutional investors have adjusted their stakes in Carvana, with 56.71% of the stock now owned by institutions, indicating growing interest from larger investment firms.

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction on Monday, July 28th. The shares were sold at an average price of $336.23, for a total value of $3,362,300.00. Following the completion of the transaction, the chief executive officer owned 606,440 shares in the company, valued at approximately $203,903,321.20. The trade was a 1.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Carvana Stock Performance

Carvana stock traded down $21.78 during trading on Friday, hitting $368.39. The stock had a trading volume of 5,034,531 shares, compared to its average volume of 4,274,104. Carvana Co. has a 1 year low of $118.50 and a 1 year high of $413.33. The company has a quick ratio of 2.70, a current ratio of 3.81 and a debt-to-equity ratio of 2.97. The stock's 50 day moving average is $332.32 and its two-hundred day moving average is $266.23. The stock has a market cap of $78.89 billion, a price-to-earnings ratio of 92.33, a price-to-earnings-growth ratio of 1.26 and a beta of 3.59.

Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.19. Carvana had a return on equity of 49.19% and a net margin of 3.46%. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the business posted ($0.05) earnings per share. The business'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 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on CVNA. Needham & Company LLC set a $500.00 price objective on Carvana and gave the company a "buy" rating in a report on Thursday. William Blair reaffirmed an "outperform" rating on shares of Carvana in a report on Wednesday, July 23rd. Wedbush raised Carvana to a "hold" rating in a report on Thursday, May 8th. Robert W. Baird lifted their target price on Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, DA Davidson lifted their target price on Carvana from $260.00 to $380.00 and gave the stock a "neutral" rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Carvana presently has a consensus rating of "Moderate Buy" and an average target price of $357.37.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently made changes to their positions in CVNA. Warren Street Wealth Advisors LLC increased its stake in Carvana by 2.8% in the second quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company's stock valued at $388,000 after acquiring an additional 31 shares during the last quarter. Yousif Capital Management LLC boosted its position in Carvana by 4.1% during the 1st quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock valued at $265,000 after acquiring an additional 50 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Carvana by 5.2% in the 1st 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. Harbour Investments Inc. lifted its position in Carvana by 46.5% in the 2nd quarter. Harbour Investments Inc. now owns 208 shares of the company's stock valued at $70,000 after acquiring an additional 66 shares in the last quarter. Finally, Commerce Bank lifted its holdings in shares of Carvana by 1.6% during the 1st quarter. Commerce Bank now owns 4,446 shares of the company's stock valued at $930,000 after buying an additional 69 shares during the period. Hedge funds and other institutional investors own 56.71% of the company's stock.

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.