Carvana Co. (NYSE:CVNA – Get Free Report) major shareholder Ernest C. Garcia II sold 60,000 shares of Carvana stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $108.86, for a total transaction of $6,531,600.00. Following the completion of the transaction, the insider now directly owns 1,057,500 shares in the company, valued at $115,119,450. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Carvana Price Performance
NYSE:CVNA opened at $119.46 on Tuesday. The firm’s 50-day moving average price is $103.05 and its 200-day moving average price is $76.21. The company has a market capitalization of $24.20 billion, a PE ratio of 52.39 and a beta of 3.29. Carvana Co. has a 1-year low of $20.60 and a 1-year high of $129.00.
Carvana (NYSE:CVNA – Get Free Report) last released its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.35. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Equities analysts anticipate that Carvana Co. will post -0.75 EPS for the current fiscal year.
Institutional Trading of Carvana
Analyst Ratings Changes
Several brokerages recently commented on CVNA. Evercore ISI lifted their target price on shares of Carvana from $111.00 to $118.00 and gave the stock an “in-line” rating in a research note on Thursday, June 20th. Needham & Company LLC reissued a “hold” rating on shares of Carvana in a research report on Thursday, May 2nd. JMP Securities boosted their price objective on shares of Carvana from $135.00 to $150.00 and gave the company a “market outperform” rating in a research report on Friday, June 7th. Morgan Stanley boosted their price objective on shares of Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, February 26th. Finally, William Blair reissued an “outperform” rating on shares of Carvana in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $87.29.
Read Our Latest Research Report on CVNA
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.
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