Carvana Co. (NYSE:CVNA) Major Shareholder Ernest C. Garcia II Sells 100,000 Shares

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $155.94, for a total value of $15,594,000.00. Following the sale, the insider now owns 90,814 shares of the company’s stock, valued at approximately $14,161,535.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, August 26th, Ernest C. Garcia II sold 9,186 shares of Carvana stock. The stock was sold at an average price of $156.95, for a total value of $1,441,742.70.
• On Friday, July 12th, Ernest C. Garcia II sold 37,500 shares of Carvana stock. The shares were sold at an average price of $136.63, for a total value of $5,123,625.00.

Carvana Trading Up 0.5 %

Shares of NYSE:CVNA opened at $158.74 on Wednesday. The firm has a fifty day moving average of $134.77 and a two-hundred day moving average of $105.04. The firm has a market capitalization of $32.16 billion, a P/E ratio of 69.62 and a beta of 3.37. Carvana Co. has a 12-month low of $25.09 and a 12-month high of $159.85. The company has a quick ratio of 1.62, a current ratio of 3.11 and a debt-to-equity ratio of 47.20.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently modified their holdings of CVNA. Ridgewood Investments LLC acquired a new stake in shares of Carvana during the 2nd quarter valued at $32,000. Parallel Advisors LLC raised its holdings 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 purchasing an additional 194 shares in the last quarter. Summit Securities Group LLC raised its holdings in shares of Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares in the last quarter. Fifth Third Bancorp raised its holdings in Carvana by 450.8% during the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after buying an additional 275 shares in the last quarter. Finally, Tidemark LLC acquired a new stake in shares of Carvana in the fourth quarter worth about $50,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on CVNA shares. Needham & Company LLC upped their price objective on shares of Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. BTIG Research raised their price objective on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. DA Davidson raised their price objective on shares of Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Thursday, May 2nd. Finally, Wedbush raised shares of Carvana to a “neutral” rating and raised their price objective for the stock from $120.00 to $150.00 in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $148.40.

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.