Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III Sells 9,390 Shares

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 9,390 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $82.83, for a total transaction of $777,773.70. Following the transaction, the chief executive officer now directly owns 861,458 shares of the company’s stock, valued at $71,354,566.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Carvana Stock Down 0.6 %

CVNA stock opened at $82.38 on Thursday. The company has a market cap of $16.63 billion, a PE ratio of 152.56 and a beta of 3.32. The business has a 50-day simple moving average of $67.73 and a 200 day simple moving average of $49.57. Carvana Co. has a 52 week low of $6.70 and a 52 week high of $94.04.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.56 billion. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.97) earnings per share. On average, analysts anticipate that Carvana Co. will post -3.4 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CVNA shares. William Blair raised shares of Carvana from a “market perform” rating to an “outperform” rating in a research note on Friday, February 23rd. Evercore ISI raised their target price on shares of Carvana from $75.00 to $78.00 and gave the company an “in-line” rating in a research note on Tuesday. Royal Bank of Canada raised shares of Carvana from an “underperform” rating to a “sector perform” rating and raised their target price for the company from $45.00 to $90.00 in a research note on Friday, March 8th. Jefferies Financial Group raised shares of Carvana from an “underperform” rating to a “hold” rating and lifted their price objective for the stock from $30.00 to $85.00 in a research report on Tuesday, March 12th. Finally, Raymond James raised shares of Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $50.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Morgan Stanley raised its stake in Carvana by 13.8% during the third quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock worth $619,478,000 after acquiring an additional 1,784,009 shares in the last quarter. Vanguard Group Inc. raised its stake in Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after acquiring an additional 655,603 shares in the last quarter. Spruce House Investment Management LLC raised its stake in Carvana by 52.7% during the fourth quarter. Spruce House Investment Management LLC now owns 10,000,000 shares of the company’s stock worth $47,400,000 after acquiring an additional 3,450,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Carvana by 3.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,346,602 shares of the company’s stock worth $283,050,000 after acquiring an additional 165,379 shares in the last quarter. Finally, FMR LLC raised its stake in Carvana by 0.5% during the third quarter. FMR LLC now owns 4,696,510 shares of the company’s stock worth $197,160,000 after acquiring an additional 24,560 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.