Carvana Co. (NYSE:CVNA) Major Shareholder Sells $17,906,000.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $179.06, for a total transaction of $17,906,000.00. Following the sale, the insider now owns 38,858,131 shares of the company’s stock, valued at $6,957,936,936.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 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 Monday, October 7th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $180.49, for a total value of $18,049,000.00.
• 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 stock was sold at an average price of $171.68, for a total transaction 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 transaction 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 transaction 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 shares were 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 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 transaction 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 transaction of $10,629,000.00.

Carvana Trading Down 0.5 %

Shares of Carvana stock opened at $190.07 on Thursday. 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 capitalization of $38.50 billion, a P/E ratio of 83.36 and a beta of 3.44. Carvana Co. has a 1 year low of $25.09 and a 1 year high of $193.49. The company’s fifty day moving average is $155.06 and its two-hundred day moving average is $124.09.

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

Wall Street Analyst Weigh In

CVNA has been the topic of a number of recent research reports. Morgan Stanley upped their price objective on Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. BTIG Research upped their price target on Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JMP Securities reiterated a “market outperform” rating and issued a $200.00 price objective on shares of Carvana in a research note on Monday, September 9th. Evercore ISI restated an “in-line” rating and set a $178.00 target price on shares of Carvana in a research note on Thursday, September 26th. Finally, Stephens started coverage on shares of Carvana in a report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $164.28.

Hedge Funds Weigh In On Carvana

Large investors have recently bought and sold shares of the company. Hsbc Holdings PLC raised its holdings in Carvana by 107.4% during the fourth quarter. Hsbc Holdings PLC now owns 30,580 shares of the company’s stock worth $1,612,000 after purchasing an additional 15,832 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after buying an additional 194 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Carvana in the 4th quarter valued at approximately $409,000. Rafferty Asset Management LLC boosted its stake 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 valued at $2,318,000 after buying an additional 12,193 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in Carvana by 10.2% during the fourth quarter. Neuberger Berman Group LLC now owns 6,543 shares of the company’s stock worth $346,000 after acquiring an additional 606 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.