Carvana Co. (NYSE:CVNA) Major Shareholder Ernest C. Garcia II Sells 50,000 Shares

Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 50,000 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $330.27, for a total transaction of $16,513,500.00. Following the transaction, the insider now directly owns 36,992,317 shares in the company, valued at approximately $12,217,452,535.59. The trade was a 0.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Ernest C. Garcia II also recently made the following trade(s):

• On Friday, June 6th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $346.99, for a total transaction of $34,699,000.00.
• On Wednesday, June 4th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $339.58, for a total transaction of $16,979,000.00.
• On Monday, June 2nd, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $325.94, for a total value of $16,297,000.00.
• On Friday, May 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $325.16, for a total transaction of $16,258,000.00.

Carvana Stock Down 4.9%

Shares of NYSE:CVNA traded down $15.75 during trading on Friday, hitting $303.20. 1,445,624 shares of the company were exchanged, compared to its average volume of 3,913,944. The stock has a market cap of $64.93 billion, a price-to-earnings ratio of 193.57 and a beta of 3.65. Carvana Co. has a fifty-two week low of $100.05 and a fifty-two week high of $351.43. The firm has a fifty day moving average price of $270.50 and a two-hundred day moving average price of $240.77. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.76. The company had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business's revenue was up 38.3% on a year-over-year basis. During the same period last year, the firm posted $0.23 earnings per share. As a group, research analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on CVNA. Needham & Company LLC reissued a "buy" rating and issued a $340.00 target price on shares of Carvana in a research report on Thursday, May 8th. Royal Bank of Canada increased their target price on shares of Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Wedbush upgraded shares of Carvana to a "hold" rating in a research note on Thursday, May 8th. JMP Securities decreased their price target on Carvana from $340.00 to $275.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, DA Davidson raised their price objective on shares of Carvana from $220.00 to $260.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Carvana presently has an average rating of "Moderate Buy" and an average price target of $280.35.

Hedge Funds Weigh In On Carvana

Institutional investors and hedge funds have recently made changes to their positions in the company. Strs Ohio bought a new position in Carvana in the 1st quarter valued at about $852,000. Geneos Wealth Management Inc. lifted its holdings in Carvana by 251.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock worth $53,000 after buying an additional 181 shares during the period. IFM Investors Pty Ltd grew its holdings in Carvana by 0.6% during the 1st quarter. IFM Investors Pty Ltd now owns 21,061 shares of the company's stock worth $4,403,000 after acquiring an additional 135 shares during the period. Bayforest Capital Ltd increased its holdings in Carvana by 41.5% in the first quarter. Bayforest Capital Ltd now owns 1,773 shares of the company's stock worth $371,000 after purchasing an additional 520 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Carvana by 27.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 529,596 shares of the company's stock valued at $110,728,000 after acquiring an additional 114,526 shares during the period. Institutional investors and hedge funds own 56.71% of the company's stock.

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.