Carvana Co. (NYSE:CVNA) Major Shareholder Sells $17,266,000.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $172.66, for a total transaction of $17,266,000.00. Following the transaction, the insider now owns 39,658,131 shares in the company, valued at approximately $6,847,372,898.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 Wednesday, September 25th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $170.51, for a total transaction of $17,051,000.00.
• 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 transaction of $16,846,000.00.
• 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 shares were 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 transaction of $14,916,000.00.
• On Wednesday, August 28th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $155.69, for a total transaction 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 shares were sold at an average price of $136.63, for a total transaction of $5,123,625.00.

Carvana Price Performance

Shares of CVNA stock opened at $169.72 on Friday. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. The company has a market capitalization of $34.38 billion, a P/E ratio of 74.44 and a beta of 3.43. The company’s 50-day simple moving average is $146.68 and its two-hundred day simple moving average is $118.27. Carvana Co. has a one year low of $25.09 and a one year high of $176.33.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.23 billion. As a group, equities analysts anticipate that Carvana Co. will post 0.27 EPS for the current year.

Hedge Funds Weigh In On Carvana

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Carvana by 2.7% in the 1st 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 boosted its stake in shares of Carvana by 39.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after purchasing an additional 2,112,463 shares in the last quarter. Lingotto Investment Management LLP boosted its stake in shares of Carvana by 1.4% during the second quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock valued at $486,143,000 after purchasing an additional 52,833 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Carvana by 17.1% during the fourth quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock valued at $78,560,000 after purchasing an additional 216,893 shares in the last quarter. Finally, Goodnow Investment Group LLC boosted its stake in shares of Carvana by 1.6% during the fourth quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock valued at $77,532,000 after purchasing an additional 23,140 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on CVNA. Piper Sandler increased their price objective on shares of Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Morgan Stanley upped their target price on shares of Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on shares of Carvana from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Evercore ISI restated an “in-line” rating and set a $178.00 target price on shares of Carvana in a research report on Thursday. Finally, Royal Bank of Canada upgraded shares of Carvana to a “sector perform” rating and upped their target price for the company from $166.00 to $170.00 in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Carvana currently has a consensus rating of “Hold” and a consensus price target of $155.12.

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.