Carvana Co. (NYSE:CVNA) Major Shareholder Sells $17,266,000.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $172.66, for a total transaction of $17,266,000.00. Following the completion of the sale, the insider now directly owns 39,658,131 shares of the company’s stock, valued at approximately $6,847,372,898.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own at least 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 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 stock was sold at an average price of $155.00, for a total transaction 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 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.
• 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 stock was 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 stock was sold at an average price of $156.95, for a total transaction of $1,441,742.70.
• On Friday, July 12th, Ernest C. Garcia II sold 37,500 shares of Carvana stock. The shares were sold at an average price of $136.63, for a total transaction of $5,123,625.00.

Carvana Price Performance

Carvana stock traded down $3.00 during midday trading on Wednesday, reaching $169.70. The company’s stock had a trading volume of 2,352,604 shares, compared to its average volume of 5,086,821. The stock has a market cap of $35.12 billion, a PE ratio of 75.75 and a beta of 3.43. 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 business has a 50-day moving average price of $144.33 and a 200-day moving average price of $116.89. Carvana Co. has a 52 week low of $25.09 and a 52 week high of $176.33.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. On average, sell-side analysts predict that Carvana Co. will post 0.27 EPS for the current year.

Hedge Funds Weigh In On Carvana

Several institutional investors have recently added to or reduced their stakes in the business. CWM LLC grew its holdings in Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after buying an additional 144 shares in the last quarter. Great Valley Advisor Group Inc. boosted its position in shares of Carvana by 1.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock valued at $1,333,000 after acquiring an additional 182 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after buying an additional 194 shares in the last quarter. American Century Companies Inc. increased its stake in Carvana by 2.6% in the 2nd quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock worth $1,205,000 after purchasing an additional 241 shares during the period. Finally, Ridgewood Investments LLC purchased a new position in shares of Carvana during the second quarter valued at approximately $32,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. TD Cowen raised their price objective on shares of Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Needham & Company LLC lifted their price objective on shares of Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Stephens started coverage on shares of Carvana in a research report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price target on the stock. Wedbush upgraded shares of Carvana to a “neutral” rating and boosted their price target for the stock from $120.00 to $150.00 in a research report on Monday, August 19th. Finally, Robert W. Baird started coverage on shares of Carvana in a research note on Thursday, August 1st. They issued a “neutral” rating and a $160.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $153.88.

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.