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 Carvana stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $133.41, for a total value of $10,005,750.00. Following the transaction, the insider now owns 1,565,814 shares in the company, valued at $208,895,245.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 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 Price Performance

CVNA stock traded up $13.39 during mid-day trading on Thursday, reaching $146.62. The company had a trading volume of 14,473,069 shares, compared to its average volume of 5,537,949. The company has a market capitalization of $29.70 billion, a price-to-earnings ratio of 64.31 and a beta of 3.37. Carvana Co. has a 52 week low of $25.09 and a 52 week high of $154.00. The stock has a 50 day simple moving average of $119.99 and a two-hundred day simple moving average of $91.51.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.35. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $2.72 billion. On average, equities analysts predict that Carvana Co. will post -0.71 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and issued a $150.00 price objective on shares of Carvana in a research report on Wednesday, July 10th. Evercore ISI upped their price target on shares of Carvana from $135.00 to $140.00 and gave the company an “in-line” rating in a report on Tuesday, July 16th. BTIG Research raised their price objective on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday. Wedbush reaffirmed a “neutral” rating and issued a $120.00 price objective on shares of Carvana in a research report on Monday. Finally, Morgan Stanley increased their target price on Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Carvana currently has an average rating of “Hold” and an average target price of $140.27.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Versor Investments LP lifted its position in shares of Carvana by 131.4% in the second quarter. Versor Investments LP now owns 8,100 shares of the company’s stock valued at $1,043,000 after buying an additional 4,600 shares during the last quarter. CIBC Asset Management Inc boosted its position in Carvana by 22.3% during the second quarter. CIBC Asset Management Inc now owns 3,251 shares of the company’s stock worth $418,000 after purchasing an additional 593 shares during the period. Convergence Investment Partners LLC acquired a new position in shares of Carvana in the second quarter valued at $2,049,000. Natixis Advisors LLC bought a new position in shares of Carvana in the second quarter valued at about $10,147,000. Finally, nVerses Capital LLC acquired a new stake in shares of Carvana during the 2nd quarter worth about $77,000. Institutional investors 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.