Carvana Co. (NYSE:CVNA) Major Shareholder Sells $19,255,000.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $192.55, for a total transaction of $19,255,000.00. Following the completion of the transaction, the insider now owns 38,258,131 shares in the company, valued at approximately $7,366,603,124.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% 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 Monday, October 14th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $190.47, for a total value of $19,047,000.00.
• 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 value of $19,070,000.00.
• On Monday, October 7th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $180.49, for a total value 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 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 transaction 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 value of $16,988,000.00.
• On Wednesday, September 25th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was 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 shares were 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.

Carvana Trading Up 0.8 %

Shares of NYSE CVNA opened at $193.58 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 stock has a market cap of $39.21 billion, a P/E ratio of 84.90 and a beta of 3.44. The firm has a 50 day moving average price of $160.50 and a two-hundred day moving average price of $127.68. Carvana Co. has a 52-week low of $25.09 and a 52-week high of $195.17.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. As a group, equities analysts forecast that Carvana Co. will post 0.29 EPS for the current year.

Wall Street Analyst Weigh In

CVNA has been the subject of several analyst reports. Wedbush boosted their target price on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. 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. Needham & Company LLC raised their target price on Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Piper Sandler boosted their price target on Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company upgraded Carvana from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $77.00 to $175.00 in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $171.76.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CVNA. Vanguard Group Inc. increased its position in shares of Carvana by 2.7% during the first quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock worth $904,642,000 after acquiring an additional 266,972 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Carvana by 39.5% during the 1st 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 in the last quarter. Lingotto Investment Management LLP raised its stake in shares of Carvana by 1.4% in the second quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock worth $486,143,000 after purchasing an additional 52,833 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Carvana by 12.2% in the second quarter. Renaissance Technologies LLC now owns 813,400 shares of the company’s stock valued at $104,701,000 after purchasing an additional 88,500 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its holdings in 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 buying an additional 323,153 shares in the last quarter. Institutional investors and hedge funds 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.