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 stock in a transaction on Monday, June 9th. The shares were sold at an average price of $330.27, for a total value of $16,513,500.00. Following the completion of the transaction, the insider now owns 36,992,317 shares of the company's stock, valued at $12,217,452,535.59. This trade represents a 0.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

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

• On Wednesday, June 11th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $337.46, for a total value of $16,873,000.00.
• On Friday, June 6th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $346.99, for a total value 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 value of $16,979,000.00.
• On Monday, June 2nd, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was 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 value of $16,258,000.00.

Carvana Stock Performance

Shares of CVNA stock traded down $22.24 during trading on Friday, reaching $296.71. The company had a trading volume of 6,604,157 shares, compared to its average volume of 3,935,991. The firm's 50 day simple moving average is $272.91 and its two-hundred day simple moving average is $240.95. 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 one year low of $100.05 and a one year high of $351.43. The company has a market capitalization of $63.54 billion, a PE ratio of 188.99 and a beta of 3.65.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its position in Carvana by 13.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock worth $3,125,749,000 after buying an additional 1,823,218 shares during the period. Vanguard Group Inc. increased its position in Carvana by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock worth $2,620,785,000 after buying an additional 1,109,476 shares during the period. Lingotto Investment Management LLP increased its position in Carvana by 1.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock worth $810,827,000 after buying an additional 57,215 shares during the period. Durable Capital Partners LP increased its position in Carvana by 6.3% in the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock worth $440,932,000 after buying an additional 129,246 shares during the period. Finally, Geode Capital Management LLC increased its position in Carvana by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock worth $381,592,000 after buying an additional 75,250 shares during the period. 56.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Citigroup raised their price objective on Carvana from $280.00 to $325.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Wedbush upgraded Carvana to a "hold" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. cut their price target on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. JMP Securities cut their price target on Carvana from $340.00 to $275.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 9th. Finally, William Blair reaffirmed an "outperform" rating on shares of Carvana in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.