Ernest C. Garcia II Sells 9,186 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 9,186 shares of Carvana stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $156.95, for a total transaction of $1,441,742.70. Following the transaction, the insider now directly owns 41,433,131 shares in the company, valued at approximately $6,502,929,910.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major 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 Wednesday, August 28th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $155.69, for a total value of $15,569,000.00.
• 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 value of $5,123,625.00.

Carvana Stock Performance

NYSE:CVNA opened at $150.08 on Friday. The stock has a market cap of $30.40 billion, a P/E ratio of 65.82 and a beta of 3.37. 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 business’s 50-day moving average price is $136.44 and its two-hundred day moving average price is $105.70. Carvana Co. has a twelve month low of $25.09 and a twelve month high of $159.85.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and boosted their price target for the stock from $166.00 to $170.00 in a report on Monday, August 19th. DA Davidson increased their target price on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Evercore ISI decreased their price target on shares of Carvana from $150.00 to $142.00 and set an “in-line” rating for the company in a research note on Wednesday, August 7th. JMP Securities upped their price objective on Carvana from $150.00 to $200.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. Finally, Piper Sandler raised their target price on Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Carvana currently has a consensus rating of “Hold” and an average target price of $148.40.

Institutional Investors Weigh In On Carvana

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC increased its holdings in shares of Carvana by 19.5% in the 2nd 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. raised its position in Carvana by 1.8% during the second quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock valued at $1,333,000 after purchasing an additional 182 shares in the last quarter. Parallel Advisors LLC lifted its stake in Carvana by 39.0% during the fourth 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. boosted its holdings in shares of Carvana by 2.6% in 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 in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of Carvana in the 2nd quarter worth about $32,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.