Ernest C. Garcia II Sells 15,814 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 15,814 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $201.16, for a total transaction of $3,181,144.24. Following the completion of the transaction, the insider now directly owns 37,442,317 shares in the company, valued at $7,531,896,487.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Wednesday, October 23rd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $197.20, for a total transaction of $19,720,000.00.
• On Monday, October 21st, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $190.79, for a total transaction of $19,079,000.00.
• On Friday, October 18th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $191.37, for a total transaction of $19,137,000.00.
• On Wednesday, October 16th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $193.06, for a total transaction of $19,306,000.00.
• On Monday, October 14th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $190.47, for a total transaction of $19,047,000.00.
• On Friday, October 11th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $192.55, for a total transaction of $19,255,000.00.
• On Wednesday, October 9th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $190.70, for a total transaction of $19,070,000.00.
• 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 transaction of $18,049,000.00.
• 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 transaction of $17,906,000.00.
• On Wednesday, October 2nd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $174.64, for a total transaction of $17,464,000.00.

Carvana Stock Performance

Shares of CVNA opened at $202.53 on Friday. 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 firm has a market cap of $41.03 billion, a PE ratio of 88.83 and a beta of 3.44. The company’s 50 day simple moving average is $167.97 and its 200-day simple moving average is $133.19. Carvana Co. has a 12-month low of $25.09 and a 12-month high of $203.72.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.23 billion. As a group, equities analysts predict that Carvana Co. will post 0.29 EPS for the current year.

Institutional Investors Weigh In On Carvana

Several hedge funds have recently modified their holdings of CVNA. Price T Rowe Associates Inc. MD lifted its holdings in shares of Carvana by 39.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after purchasing an additional 2,112,463 shares during the period. Sylebra Capital LLC acquired a new stake in shares of Carvana during the second quarter worth $67,686,000. Senator Investment Group LP acquired a new stake in shares of Carvana during the second quarter worth $63,767,000. Driehaus Capital Management LLC lifted its holdings in shares of Carvana by 124.9% during the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after purchasing an additional 323,153 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Carvana during the second quarter worth $39,997,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVNA has been the topic of several research reports. Wedbush increased their price target on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $200.00 target price on shares of Carvana in a report on Monday, September 9th. Citigroup raised their target price on shares of Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Evercore ISI raised their target price on shares of Carvana from $178.00 to $182.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Finally, Bank of America raised their target price on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Carvana presently has an average rating of “Hold” and an average target price of $182.29.

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.