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 Thursday, April 11th. The stock was sold at an average price of $80.13, for a total value of $4,006,500.00. Following the completion of the sale, the insider now directly owns 3,312,500 shares in the company, valued at $265,430,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Carvana Stock Performance

Shares of CVNA traded down $5.22 on Monday, hitting $69.77. 5,890,094 shares of the stock traded hands, compared to its average volume of 6,276,103. The company has a market capitalization of $14.09 billion, a PE ratio of 129.20 and a beta of 3.32. The business has a 50 day simple moving average of $73.60 and a 200 day simple moving average of $51.66. Carvana Co. has a one year low of $6.70 and a one year high of $94.04.

Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing analysts' consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period in the previous year, the business posted ($0.97) earnings per share. The company's revenue for the quarter was down 14.6% compared to the same quarter last year. On average, equities analysts expect that Carvana Co. will post -3.4 earnings per share for the current year.

Institutional Investors Weigh In On Carvana

Large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its position in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company's stock valued at $37,000 after acquiring an additional 194 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Carvana by 1.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,160 shares of the company's stock valued at $697,000 after acquiring an additional 249 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Carvana by 17.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,929 shares of the company's stock valued at $230,000 after acquiring an additional 280 shares during the period. Diversified Trust Co grew its position in shares of Carvana by 6.0% during the 4th quarter. Diversified Trust Co now owns 5,659 shares of the company's stock valued at $300,000 after acquiring an additional 319 shares during the period. Finally, Corient Private Wealth LLC grew its position in shares of Carvana by 5.6% during the 4th quarter. Corient Private Wealth LLC now owns 6,713 shares of the company's stock valued at $355,000 after acquiring an additional 358 shares during the period. Institutional investors own 56.71% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wedbush raised their target price on Carvana from $40.00 to $50.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 20th. Royal Bank of Canada upgraded shares of Carvana from an "underperform" rating to a "sector perform" rating and raised their price objective for the stock from $45.00 to $90.00 in a report on Friday, March 8th. Jefferies Financial Group upgraded shares of Carvana from an "underperform" rating to a "hold" rating and raised their price objective for the stock from $30.00 to $85.00 in a report on Tuesday, March 12th. Raymond James upgraded shares of Carvana from an "underperform" rating to a "market perform" rating in a report on Friday, February 23rd. Finally, Evercore ISI raised their price objective on shares of Carvana from $75.00 to $78.00 and gave the stock an "in-line" rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $50.60.

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.

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