Carvana Co. (NYSE:CVNA) Major Shareholder Ernest C. Garcia II Sells 98,528 Shares

Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 98,528 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $349.77, for a total transaction of $34,462,138.56. Following the sale, the insider owned 36,042,792 shares of the company's stock, valued at approximately $12,606,687,357.84. This represents a 0.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large 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 Friday, July 11th, Ernest C. Garcia II sold 96,026 shares of Carvana stock. The stock was sold at an average price of $348.75, for a total value of $33,489,067.50.
• On Thursday, July 10th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $352.36, for a total transaction of $35,236,000.00.
• On Tuesday, July 8th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $353.76, for a total transaction of $35,376,000.00.
• On Wednesday, July 2nd, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $340.07, for a total transaction of $17,003,500.00.
• On Monday, June 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $327.07, for a total value of $16,353,500.00.
• On Wednesday, June 25th, Ernest C. Garcia II sold 4,971 shares of Carvana stock. The shares were sold at an average price of $325.15, for a total value of $1,616,320.65.
• On Tuesday, June 24th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $325.81, for a total value of $16,290,500.00.
• On Wednesday, June 11th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $337.46, for a total value of $16,873,000.00.
• On Monday, June 9th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The shares were sold at an average price of $330.27, for a total transaction of $16,513,500.00.
• 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 transaction of $34,699,000.00.

Carvana Trading Down 1.6%

Shares of CVNA stock traded down $5.49 on Thursday, hitting $346.53. The company had a trading volume of 3,339,668 shares, compared to its average volume of 3,793,088. Carvana Co. has a twelve month low of $118.50 and a twelve month high of $364.00. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. The firm has a market cap of $74.21 billion, a P/E ratio of 121.59, a P/E/G ratio of 1.36 and a beta of 3.59. The stock's 50-day moving average is $321.39 and its two-hundred day moving average is $255.12.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results 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. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The company's revenue for the quarter was up 38.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. On average, equities 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 weighed in on CVNA. Robert W. Baird upped their target price on Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Wedbush upgraded Carvana to a "hold" rating in a research report on Thursday, May 8th. Evercore ISI raised their price objective on Carvana from $295.00 to $305.00 and gave the company an "in-line" rating in a research note on Tuesday, June 24th. Needham & Company LLC reissued a "buy" rating and set a $340.00 target price on shares of Carvana in a research note on Thursday, May 8th. Finally, Wall Street Zen raised shares of Carvana from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Carvana has a consensus rating of "Moderate Buy" and a consensus price target of $305.00.

Institutional Trading of Carvana

A number of institutional investors have recently bought and sold shares of the company. Yousif Capital Management LLC boosted its holdings in Carvana by 4.1% in the first quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock worth $265,000 after acquiring an additional 50 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Carvana by 5.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company's stock valued at $256,000 after purchasing an additional 60 shares during the period. Commerce Bank increased its stake in Carvana by 1.6% during the 1st quarter. Commerce Bank now owns 4,446 shares of the company's stock valued at $930,000 after purchasing an additional 69 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Carvana by 3.3% during the first quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company's stock worth $466,000 after buying an additional 72 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Carvana by 21.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock valued at $87,000 after buying an additional 74 shares in the last quarter. Institutional investors 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.