Carvana Co. (NYSE:CVNA) Major Shareholder Sells $10,005,750.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $133.41, for a total transaction of $10,005,750.00. Following the completion of the transaction, the insider now owns 1,565,814 shares in the company, valued at approximately $208,895,245.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large 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 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 Trading Down 6.4 %

Carvana stock opened at $137.20 on Friday. The firm has a 50-day moving average price of $120.56 and a two-hundred day moving average price of $92.52. The firm has a market capitalization of $27.79 billion, a price-to-earnings ratio of 60.18 and a beta of 3.37. Carvana Co. has a 52-week low of $25.09 and a 52-week high of $154.00. The company has a quick ratio of 1.62, a current ratio of 3.11 and a debt-to-equity ratio of 47.20.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.35. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $2.72 billion. Sell-side analysts expect that Carvana Co. will post -0.71 earnings per share for the current year.

Institutional Trading of Carvana

A number of institutional investors have recently made changes to their positions in CVNA. SG Americas Securities LLC acquired a new stake in shares of Carvana in the 4th quarter worth approximately $117,000. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Carvana by 2.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 55,669 shares of the company’s stock worth $2,947,000 after acquiring an additional 1,125 shares during the period. Blue Trust Inc. acquired a new stake in shares of Carvana in the 4th quarter worth approximately $29,000. International Assets Investment Management LLC acquired a new stake in shares of Carvana in the 4th quarter worth approximately $5,610,000. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of Carvana in the 4th quarter worth approximately $380,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. DA Davidson lifted 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. Evercore ISI lifted their price target on shares of Carvana from $135.00 to $140.00 and gave the company an “in-line” rating in a report on Tuesday, July 16th. Piper Sandler lifted their price target on shares of Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a report on Thursday. BTIG Research lifted their price target on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday. Finally, Robert W. Baird started coverage on shares of Carvana in a report on Thursday. They issued a “neutral” rating and a $160.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $143.60.

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.