Carvana Co. (NYSE:CVNA) Major Shareholder Sells $16,846,000.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.46, for a total value of $16,846,000.00. Following the sale, the insider now directly owns 39,858,131 shares of the company’s stock, valued at approximately $6,714,500,748.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more 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, September 23rd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $172.66, for a total transaction of $17,266,000.00.
• On Tuesday, September 17th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were 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 shares were 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 value 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 value of $15,569,000.00.
• On Monday, August 26th, Ernest C. Garcia II sold 9,186 shares of Carvana stock. The shares were 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 stock was sold at an average price of $136.63, for a total transaction of $5,123,625.00.

Carvana Stock Performance

NYSE:CVNA opened at $169.70 on Thursday. The company has a market capitalization of $35.12 billion, a P/E ratio of 74.43 and a beta of 3.43. The business has a fifty day simple moving average of $145.05 and a two-hundred day simple moving average of $117.26. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. Carvana Co. has a 1 year low of $25.09 and a 1 year high of $176.33.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.23 billion. On average, analysts expect that Carvana Co. will post 0.27 earnings per share for the current year.

Institutional Trading of Carvana

A number of institutional investors have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Carvana during the second quarter worth $37,728,000. Maven Securities LTD purchased a new stake in Carvana during the 2nd quarter worth about $270,000. Senator Investment Group LP bought a new position in Carvana in the 2nd quarter worth about $63,767,000. Sylebra Capital LLC purchased a new position in Carvana during the 2nd quarter valued at about $67,686,000. Finally, Creative Planning increased its position in shares of Carvana by 34.4% during the second quarter. Creative Planning now owns 15,296 shares of the company’s stock valued at $1,969,000 after buying an additional 3,913 shares during the period. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CVNA shares. Piper Sandler boosted their price objective on Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Morgan Stanley upped their price target on Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. DA Davidson increased their price target on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research 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 stock a “buy” rating in a report on Thursday, August 1st. Finally, Evercore ISI increased their target price on shares of Carvana from $142.00 to $157.00 and gave the company an “in-line” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $153.88.

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.