Ernest C. Garcia III Sells 8,138 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA - Get Free Report) CEO Ernest C. Garcia III sold 8,138 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $342.12, for a total value of $2,784,172.56. Following the sale, the chief executive officer now directly owns 770,931 shares of the company's stock, valued at approximately $263,750,913.72. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Carvana Trading Down 0.7%

Shares of CVNA stock traded down $2.55 during trading hours on Tuesday, reaching $337.36. The company had a trading volume of 1,644,011 shares, compared to its average volume of 3,940,188. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. Carvana Co. has a 1-year low of $100.05 and a 1-year high of $351.43. The firm has a market cap of $72.24 billion, a price-to-earnings ratio of 214.83 and a beta of 3.65. The company has a 50 day moving average of $260.79 and a 200 day moving average of $238.98.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period in the prior year, the business earned $0.23 EPS. The company's revenue for the quarter was up 38.3% compared to the same quarter last year. On average, equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Institutional Trading of Carvana

Several hedge funds have recently added to or reduced their stakes in CVNA. Brooklyn Investment Group increased its stake in Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after acquiring an additional 125 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of Carvana during the 4th quarter valued at $28,000. Global Retirement Partners LLC grew its position in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after acquiring an additional 78 shares during the last quarter. Rialto Wealth Management LLC bought a new position in Carvana in the fourth quarter valued at about $31,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Carvana during the 1st quarter worth approximately $33,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVNA has been the topic of a number of recent research reports. DA Davidson boosted their target price on Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Morgan Stanley increased their target price on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Wedbush raised Carvana to a "hold" rating in a report on Thursday, May 8th. Piper Sandler set a $340.00 target price on shares of Carvana and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. Finally, Evercore ISI cut their price target on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a report on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $280.35.

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.