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 company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $174.64, for a total transaction of $17,464,000.00. Following the transaction, the insider now owns 39,058,131 shares of the company’s stock, valued at $6,821,111,997.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, September 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $171.68, for a total value of $17,168,000.00.
• On Friday, September 27th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $169.88, for a total transaction of $16,988,000.00.
• On Wednesday, September 25th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $170.51, for a total value of $17,051,000.00.
• On Monday, September 23rd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $172.66, for a total transaction of $17,266,000.00.
• On Thursday, September 19th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $168.46, for a total value of $16,846,000.00.
• On Tuesday, September 17th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00.
• On Monday, September 9th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The shares were sold at an average price of $135.73, for a total value of $10,179,750.00.
• On Thursday, September 5th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The shares were sold at an average price of $141.72, for a total transaction of $10,629,000.00.
• On Friday, August 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $149.16, for a total value of $14,916,000.00.
• 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 transaction of $15,569,000.00.

Carvana Stock Performance

Carvana stock opened at $180.18 on Friday. The company’s 50-day moving average is $150.65 and its two-hundred day moving average is $120.99. Carvana Co. has a 1 year low of $25.09 and a 1 year high of $182.84. The company has a market cap of $36.50 billion, a PE ratio of 79.03 and a beta of 3.43. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. Equities analysts anticipate that Carvana Co. will post 0.27 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on CVNA shares. Robert W. Baird initiated coverage on Carvana in a research note on Thursday, August 1st. They issued a “neutral” rating and a $160.00 price objective on the stock. Bank of America reaffirmed a “buy” rating and set a $185.00 price objective on shares of Carvana in a research report on Tuesday, September 17th. Piper Sandler upped their target price on Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. BTIG Research raised their price target on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada raised Carvana to a “sector perform” rating and lifted their price objective for the company from $166.00 to $170.00 in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $157.33.

Hedge Funds Weigh In On Carvana

Several institutional investors and hedge funds have recently made changes to their positions in CVNA. SG Americas Securities LLC lifted its holdings in shares of Carvana by 804.0% during the 3rd quarter. SG Americas Securities LLC now owns 9,989 shares of the company’s stock valued at $1,739,000 after purchasing an additional 8,884 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Carvana in the second quarter worth $37,728,000. Maven Securities LTD acquired a new position in shares of Carvana during the 2nd quarter worth about $270,000. Senator Investment Group LP acquired a new position in Carvana during the second quarter valued at approximately $63,767,000. Finally, Sylebra Capital LLC acquired a new stake in shares of Carvana in the 2nd quarter valued at approximately $67,686,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.