Carvana Co. (NYSE:CVNA) Major Shareholder Sells $10,179,750.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $135.73, for a total value of $10,179,750.00. Following the sale, the insider now directly owns 40,583,131 shares in the company, valued at approximately $5,508,348,370.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, September 5th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The stock was sold at an average price of $141.72, for a total value of $10,629,000.00.
• On Friday, August 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $149.16, for a total value of $14,916,000.00.
• On Wednesday, August 28th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $155.69, for a total value of $15,569,000.00.
• 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 stock was sold at an average price of $136.63, for a total value of $5,123,625.00.

Carvana Price Performance

Carvana stock opened at $140.68 on Friday. Carvana Co. has a 12 month low of $25.09 and a 12 month high of $159.85. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. The business’s 50 day simple moving average is $139.43 and its 200 day simple moving average is $111.67. The company has a market cap of $28.50 billion, a price-to-earnings ratio of 61.70 and a beta of 3.43.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wedbush raised Carvana to a “neutral” rating and boosted their target price for the company from $120.00 to $150.00 in a research report on Monday, August 19th. Stephens assumed coverage on Carvana in a research report on Thursday. They issued an “overweight” rating and a $190.00 target price for the company. Royal Bank of Canada raised Carvana to a “sector perform” rating and boosted their target price for the company from $166.00 to $170.00 in a research report on Monday, August 19th. Robert W. Baird assumed coverage on Carvana in a research report on Thursday, August 1st. They issued a “neutral” rating and a $160.00 target price for the company. Finally, Piper Sandler boosted their target price on Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Carvana has a consensus rating of “Hold” and an average target price of $151.00.

Institutional Investors Weigh In On Carvana

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after acquiring an additional 655,603 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Carvana by 6.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 831,879 shares of the company’s stock worth $44,040,000 after acquiring an additional 53,318 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in shares of Carvana by 38.6% in the fourth quarter. Rafferty Asset Management LLC now owns 43,792 shares of the company’s stock worth $2,318,000 after purchasing an additional 12,193 shares during the period. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV increased its holdings in shares of Carvana by 17.6% in the fourth quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock worth $26,470,000 after purchasing an additional 75,000 shares during the period. Finally, Tidal Investments LLC bought a new position in shares of Carvana in the first quarter worth $1,783,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.