Ernest C. Garcia II Sells 100,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $190.79, for a total value of $19,079,000.00. Following the completion of the transaction, the insider now directly owns 37,658,131 shares in the company, valued at approximately $7,184,794,813.49. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 Friday, October 18th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $191.37, for a total value of $19,137,000.00.
• On Wednesday, October 16th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $193.06, for a total value 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 stock was 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 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 value of $17,464,000.00.
• On Monday, September 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were 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.

Carvana Stock Up 1.4 %

NYSE:CVNA opened at $200.19 on Friday. The firm has a market capitalization of $40.55 billion, a PE ratio of 87.80 and a beta of 3.44. Carvana Co. has a 52 week low of $25.09 and a 52 week high of $203.24. 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 stock has a 50 day moving average of $167.04 and a 200-day moving average of $132.01.

Carvana (NYSE:CVNA) last issued its quarterly earnings data 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 analyst estimates of $3.23 billion. Analysts predict that Carvana Co. will post 0.29 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Empirical Asset Management LLC raised its holdings in shares of Carvana by 2.0% during the third quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock worth $890,000 after acquiring an additional 100 shares in the last quarter. Bleakley Financial Group LLC raised its position in shares of Carvana by 6.0% in the third quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock valued at $402,000 after purchasing an additional 130 shares during the period. CWM LLC boosted its holdings in Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after acquiring an additional 144 shares during the period. GAMMA Investing LLC grew its holdings in Carvana by 32.8% in the 3rd quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock valued at $106,000 after buying an additional 150 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in Carvana by 2.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,122 shares of the company’s stock valued at $1,066,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

CVNA has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday. BTIG Research upped their price objective on Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Evercore ISI lifted their price target on shares of Carvana from $178.00 to $182.00 and gave the company an “in-line” rating in a research report on Tuesday. Stephens began coverage on Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 target price for the company. Finally, DA Davidson boosted their price target on shares of Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $182.29.

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.