Carvana Co. (NYSE:CVNA – Get Free Report) 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.
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.
Check Out Our Latest Stock Analysis on CVNA
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.
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