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 on Wednesday, October 23rd. The shares were sold at an average price of $197.20, for a total transaction of $19,720,000.00. Following the transaction, the insider now directly owns 37,458,131 shares in the company, valued at approximately $7,386,743,433.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Ernest C. Garcia II also recently made the following trade(s):

• On Monday, October 21st, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $190.79, for a total value of $19,079,000.00.
• 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 transaction 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 transaction of $19,306,000.00.
• On Monday, October 14th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was 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 value of $19,255,000.00.
• On Wednesday, October 9th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $190.70, for a total value of $19,070,000.00.
• On Monday, October 7th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were 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 transaction 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 value of $17,168,000.00.

Carvana Trading Up 1.2 %

Shares of CVNA traded up $2.31 during mid-day trading on Friday, reaching $202.53. 2,528,954 shares of the company were exchanged, compared to its average volume of 4,804,938. Carvana Co. has a 52 week low of $25.09 and a 52 week high of $203.72. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The business has a 50 day simple moving average of $167.04 and a two-hundred day simple moving average of $132.01. The stock has a market capitalization of $41.03 billion, a PE ratio of 87.80 and a beta of 3.44.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. On average, analysts predict that Carvana Co. will post 0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sugarloaf Wealth Management LLC bought a new position in shares of Carvana in the third quarter valued at approximately $32,000. Ridgewood Investments LLC purchased a new position in shares of Carvana in the second quarter worth $32,000. Summit Securities Group LLC boosted its holdings in shares of Carvana by 110.0% during the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 3,300 shares during the period. Fifth Third Bancorp increased its stake in shares of Carvana by 450.8% during the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after buying an additional 275 shares during the period. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Carvana in the 2nd quarter worth about $51,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Jefferies Financial Group boosted their price target on Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a research report on Tuesday. Citigroup boosted their price target on shares of Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Bank of America boosted their price target on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. BTIG Research upped their price target on Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC raised their target price on Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $182.29.

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.