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 company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $171.68, for a total transaction of $17,168,000.00. Following the completion of the sale, the insider now directly owns 39,258,131 shares of the company’s stock, valued at approximately $6,739,835,930.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, September 27th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $169.88, for a total value of $16,988,000.00.
• On Wednesday, September 25th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $170.51, for a total value of $17,051,000.00.
• On Monday, September 23rd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $172.66, for a total value of $17,266,000.00.
• On Thursday, September 19th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $168.46, for a total transaction of $16,846,000.00.
• On Tuesday, September 17th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00.
• On Monday, September 9th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The shares were sold at an average price of $135.73, for a total value of $10,179,750.00.
• On Thursday, September 5th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The shares were 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 shares were sold at an average price of $149.16, for a total transaction of $14,916,000.00.
• On Wednesday, August 28th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $155.69, for a total transaction of $15,569,000.00.
• On Monday, August 26th, Ernest C. Garcia II sold 9,186 shares of Carvana stock. The shares were sold at an average price of $156.95, for a total value of $1,441,742.70.

Carvana Stock Performance

Shares of Carvana stock traded up $1.63 during mid-day trading on Tuesday, hitting $175.74. 3,495,103 shares of the stock were exchanged, compared to its average volume of 5,035,189. Carvana Co. has a 12 month low of $25.09 and a 12 month high of $178.40. The company has a 50-day simple moving average of $147.59 and a 200 day simple moving average of $119.53. The company has a market capitalization of $35.60 billion, a P/E ratio of 76.39 and a beta of 3.43. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. Sell-side analysts anticipate that Carvana Co. will post 0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carvana

Several large investors have recently modified their holdings of CVNA. CWM LLC increased its holdings in Carvana by 19.5% during the 2nd quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after acquiring an additional 144 shares during the period. Great Valley Advisor Group Inc. grew its holdings in shares of Carvana by 1.8% during the second quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock worth $1,333,000 after purchasing an additional 182 shares in the last quarter. Parallel Advisors LLC raised its stake in Carvana by 39.0% in the fourth 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. American Century Companies Inc. lifted its position in Carvana by 2.6% during the second quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock valued at $1,205,000 after purchasing an additional 241 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new position in Carvana in the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CVNA shares. Bank of America restated a “buy” rating and issued a $185.00 price objective on shares of Carvana in a research report on Tuesday, September 17th. Wedbush raised 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. JMP Securities restated a “market outperform” rating and set a $200.00 price objective on shares of Carvana in a report on Monday, September 9th. Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and raised their price target for the stock from $166.00 to $170.00 in a research note on Monday, August 19th. Finally, Piper Sandler boosted their price target on Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $155.12.

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.