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

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $180.49, for a total value of $18,049,000.00. Following the sale, the insider now owns 38,658,131 shares of the company’s stock, valued at $6,977,406,064.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own 10% or more 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, October 4th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $179.06, for a total value of $17,906,000.00.
• On Wednesday, October 2nd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $174.64, for a total value of $17,464,000.00.
• On Monday, September 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $171.68, for a total value of $17,168,000.00.
• On Friday, September 27th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were 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 stock was 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 stock was sold at an average price of $168.46, for a total value of $16,846,000.00.
• On Tuesday, September 17th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was 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 stock was 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 stock was sold at an average price of $141.72, for a total value of $10,629,000.00.

Carvana Price Performance

Carvana stock traded down $0.92 on Wednesday, reaching $190.07. The company’s stock had a trading volume of 2,587,807 shares, compared to its average volume of 4,959,092. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The company has a market cap of $38.50 billion, a price-to-earnings ratio of 83.60 and a beta of 3.44. The business’s fifty day moving average price is $153.92 and its 200 day moving average price is $123.62. Carvana Co. has a twelve month low of $25.09 and a twelve month high of $193.49.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. Equities analysts expect that Carvana Co. will post 0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carvana

Several large investors have recently made changes to their positions in the company. USA Financial Formulas acquired a new position in shares of Carvana during the third quarter valued at $318,000. Hexagon Capital Partners LLC lifted its stake in shares of Carvana by 781.9% during the third quarter. Hexagon Capital Partners LLC now owns 2,778 shares of the company’s stock valued at $484,000 after acquiring an additional 2,463 shares during the period. CWM LLC lifted its stake in shares of Carvana by 207.7% during the third quarter. CWM LLC now owns 2,717 shares of the company’s stock valued at $473,000 after acquiring an additional 1,834 shares during the period. Sugarloaf Wealth Management LLC acquired a new position in shares of Carvana during the third quarter valued at $32,000. Finally, Atomi Financial Group Inc. acquired a new position in shares of Carvana during the third quarter valued at $288,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analysts Set New Price Targets

CVNA has been the topic of several recent analyst reports. Bank of America lifted their price target on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley boosted their price objective on Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Evercore ISI restated an “in-line” rating and set a $178.00 price objective on shares of Carvana in a research report on Thursday, September 26th. TD Cowen boosted their price objective on Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Piper Sandler boosted their price objective on Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $164.28.

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.