Carvana Co. (NYSE:CVNA) Major Shareholder Ernest C. Garcia II Sells 95,087 Shares

Key Points

• Ernest C. Garcia II, major shareholder of Carvana Co., sold 95,087 shares on August 13 for a total of approximately $33.2 million, reducing his ownership stake by 0.28%.
• Carvana's stock price has seen a recent decrease of 1.9%, trading at $343.20, while the company maintains a market capitalization of $73.86 billion.
• Analysts have given Carvana a consensus rating of "Moderate Buy" with an average price target of $383.47 following a strong earnings report that surpassed estimates.

Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 95,087 shares of Carvana stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $349.09, for a total transaction of $33,193,920.83. Following the completion of the sale, the insider owned 34,442,317 shares of the company's stock, valued at $12,023,468,441.53. This trade represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Tuesday, August 12th, Ernest C. Garcia II sold 82,888 shares of Carvana stock. The stock was sold at an average price of $346.26, for a total value of $28,700,798.88.
• On Monday, August 11th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $344.68, for a total value of $17,234,000.00.
• On Friday, August 8th, Ernest C. Garcia II sold 72,500 shares of Carvana stock. The stock was sold at an average price of $348.07, for a total value of $25,235,075.00.
• On Thursday, August 7th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $359.63, for a total transaction of $35,963,000.00.
• On Tuesday, August 5th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $360.20, for a total transaction of $36,020,000.00.
• On Friday, August 1st, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $371.30, for a total transaction of $37,130,000.00.
• On Thursday, July 31st, Ernest C. Garcia II sold 6,624 shares of Carvana stock. The shares were sold at an average price of $409.89, for a total transaction of $2,715,111.36.
• On Wednesday, July 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $332.21, for a total transaction of $16,610,500.00.
• On Monday, July 28th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $335.66, for a total transaction of $16,783,000.00.
• On Friday, July 25th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $335.34, for a total transaction of $16,767,000.00.

Carvana Stock Down 2.8%

NYSE:CVNA traded down $10.15 during midday trading on Tuesday, hitting $349.36. 550,965 shares of the company were exchanged, compared to its average volume of 4,141,970. Carvana Co. has a fifty-two week low of $124.39 and a fifty-two week high of $413.33. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. The company has a fifty day simple moving average of $338.38 and a 200 day simple moving average of $276.67. The company has a market capitalization of $75.18 billion, a PE ratio of 87.72, a price-to-earnings-growth ratio of 1.16 and a beta of 3.57.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the firm earned ($0.05) earnings per share. Carvana's revenue for the quarter was up 41.9% compared to the same quarter last year. As a group, equities analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CVNA has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Oppenheimer raised shares of Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price target for the company in a research report on Friday, July 25th. Royal Bank Of Canada lifted their target price on Carvana from $400.00 to $460.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. JMP Securities raised their price objective on Carvana from $440.00 to $460.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen lowered Carvana from a "buy" rating to a "hold" rating in a report on Saturday. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Carvana presently has a consensus rating of "Moderate Buy" and a consensus target price of $383.47.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CVNA. Hilltop National Bank purchased a new stake in shares of Carvana during the 2nd quarter valued at about $25,000. Brooklyn Investment Group grew its position in Carvana by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after acquiring an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Carvana during the 1st quarter worth about $33,000. SJS Investment Consulting Inc. increased its position in Carvana by 960.0% in the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company's stock valued at $36,000 after acquiring an additional 96 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Carvana during the 2nd quarter worth $38,000. 56.71% of the stock is owned by institutional investors.

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.