Ernest C. Garcia II Sells 75,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $128.81, for a total value of $9,660,750.00. Following the completion of the transaction, the insider now owns 1,715,814 shares in the company, valued at approximately $221,014,001.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 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 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 Price Performance

NYSE CVNA traded down $0.78 during trading on Tuesday, reaching $126.83. 4,233,183 shares of the company’s stock were exchanged, compared to its average volume of 5,458,732. The business has a 50 day moving average price of $118.68 and a 200-day moving average price of $90.24. The stock has a market capitalization of $25.69 billion, a P/E ratio of 55.63 and a beta of 3.37. Carvana Co. has a fifty-two week low of $25.09 and a fifty-two week high of $147.25.

Carvana (NYSE:CVNA) last posted its 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 business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.72 billion. On average, analysts forecast that Carvana Co. will post -0.71 earnings per share for the current year.

Analyst Ratings Changes

CVNA has been the topic of several analyst reports. William Blair reissued an “outperform” rating on shares of Carvana in a research note on Thursday, May 2nd. BTIG Research began coverage on Carvana in a report on Friday, July 12th. They set a “buy” rating and a $155.00 price objective for the company. Wells Fargo & Company raised their price target on shares of Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Robert W. Baird increased their target price on shares of Carvana from $65.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, JMP Securities reissued a “market outperform” rating and set a $150.00 price target on shares of Carvana in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $105.14.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CVNA. Blue Trust Inc. bought a new stake in shares of Carvana during the fourth quarter worth approximately $29,000. Ridgewood Investments LLC acquired a new stake in Carvana during the 2nd quarter worth approximately $32,000. Parallel Advisors LLC boosted its stake in Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after purchasing an additional 194 shares during the period. Summit Securities Group LLC boosted its stake in Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Carvana by 450.8% in the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after buying an additional 275 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

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.