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 Carvana stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $148.68, for a total value of $14,868,000.00. Following the completion of the transaction, the insider now owns 690,814 shares of the company’s stock, valued at approximately $102,710,225.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 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 value of $5,123,625.00.

Carvana Stock Up 0.0 %

Carvana stock traded up $0.02 during midday trading on Monday, reaching $155.95. The company’s stock had a trading volume of 2,311,774 shares, compared to its average volume of 5,411,430. Carvana Co. has a fifty-two week low of $25.09 and a fifty-two week high of $156.47. The company has a quick ratio of 1.62, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. The company has a market cap of $31.59 billion, a P/E ratio of 68.40 and a beta of 3.37. The business has a 50-day simple moving average of $128.85 and a 200-day simple moving average of $100.45.

Hedge Funds Weigh In On Carvana

Hedge funds have recently made changes to their positions in the company. CWM LLC grew its holdings in shares of Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after buying an additional 144 shares during the last quarter. Great Valley Advisor Group Inc. lifted its position in shares of Carvana by 1.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock valued at $1,333,000 after acquiring an additional 182 shares during the period. Parallel Advisors LLC raised its position in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares during the last quarter. American Century Companies Inc. raised its position in shares of Carvana by 2.6% during the 2nd quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock worth $1,205,000 after purchasing an additional 241 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of Carvana during the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on Carvana from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. BTIG Research boosted their price objective on Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada upgraded Carvana to a “sector perform” rating and boosted their price objective for the stock from $166.00 to $170.00 in a research note on Monday. DA Davidson boosted their price objective on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC boosted their price objective on Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $148.40.

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.