Carvana Co. (NYSE:CVNA) Major Shareholder Ernest C. Garcia II Sells 75,000 Shares of Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $126.97, for a total value of $9,522,750.00. Following the transaction, the insider now directly owns 787,500 shares in the company, valued at approximately $99,988,875. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 Price Performance

Shares of NYSE CVNA opened at $132.88 on Friday. Carvana Co. has a one year low of $23.43 and a one year high of $134.68. The business’s fifty day moving average price is $106.59 and its 200-day moving average price is $77.57. The stock has a market capitalization of $26.92 billion, a PE ratio of 58.28 and a beta of 3.29.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.72 billion. As a group, equities analysts expect that Carvana Co. will post -0.75 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on CVNA shares. Royal Bank of Canada boosted their price objective on Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 2nd. Evercore ISI boosted their price objective on Carvana from $111.00 to $118.00 and gave the stock an “in-line” rating in a research report on Thursday, June 20th. William Blair reissued an “outperform” rating on shares of Carvana in a research report on Thursday, May 2nd. Jefferies Financial Group raised Carvana from an “underperform” rating to a “hold” rating and boosted their price objective for the stock from $30.00 to $85.00 in a research report on Tuesday, March 12th. Finally, Robert W. Baird boosted their price objective on Carvana from $65.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $87.29.

Institutional Trading of Carvana

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Advisors LLC bought a new stake in shares of Carvana during the 1st quarter valued at $461,000. Cetera Investment Advisers increased its stake in Carvana by 171.7% in the 1st quarter. Cetera Investment Advisers now owns 20,862 shares of the company’s stock worth $1,834,000 after acquiring an additional 13,185 shares during the last quarter. Plato Investment Management Ltd bought a new position in Carvana in the 1st quarter worth about $55,000. Tidal Investments LLC bought a new position in Carvana in the 1st quarter worth about $1,783,000. Finally, Motley Fool Asset Management LLC bought a new position in Carvana in the 1st quarter worth about $636,000. 56.71% of the stock is currently owned by institutional investors.

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.