Carvana Co. (NYSE:CVNA) CEO Sells $2,215,176.46 in Stock

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 6,914 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $320.39, for a total transaction of $2,215,176.46. Following the completion of the transaction, the chief executive officer now owns 796,036 shares in the company, valued at $255,041,974.04. This represents a 0.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Carvana Stock Performance

Shares of NYSE:CVNA traded up $7.26 on Friday, hitting $326.91. 4,458,631 shares of the company were exchanged, compared to its average volume of 3,958,313. Carvana Co. has a 1-year low of $97.55 and a 1-year high of $327.75. The stock's 50 day moving average price is $245.17 and its 200 day moving average price is $235.13. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The firm has a market capitalization of $70.01 billion, a P/E ratio of 208.22 and a beta of 3.61.

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, topping the consensus estimate of $0.75 by $0.76. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the previous year, the firm posted $0.23 earnings per share. The business's revenue for the quarter was up 38.3% compared to the same quarter last year. Sell-side analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Institutional Investors Weigh In On Carvana

Several institutional investors and hedge funds have recently made changes to their positions in CVNA. Fifth Third Bancorp lifted its stake in shares of Carvana by 37.6% during the fourth quarter. Fifth Third Bancorp now owns 322 shares of the company's stock worth $65,000 after buying an additional 88 shares during the period. KBC Group NV raised its holdings in shares of Carvana by 220.5% during the fourth quarter. KBC Group NV now owns 9,186 shares of the company's stock worth $1,868,000 after purchasing an additional 6,320 shares during the last quarter. R Squared Ltd purchased a new position in shares of Carvana during the fourth quarter worth $171,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Carvana during the fourth quarter worth $957,000. Finally, Forsta AP Fonden purchased a new position in shares of Carvana during the fourth quarter worth $10,165,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CVNA shares. Morgan Stanley increased their price objective on shares of Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. William Blair reissued an "outperform" rating on shares of Carvana in a report on Thursday, February 20th. Bank of America lifted their price objective on shares of Carvana from $290.00 to $295.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Evercore ISI cut their price objective on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a report on Tuesday, March 11th. Finally, Wedbush raised shares of Carvana to a "hold" rating in a report on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $275.65.

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.