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 stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $137.84, for a total transaction of $10,338,000.00. Following the completion of the transaction, the insider now directly owns 1,240,814 shares of the company’s stock, valued at approximately $171,033,801.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more 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 shares were sold at an average price of $136.63, for a total transaction of $5,123,625.00.

Carvana Stock Up 1.9 %

Shares of NYSE CVNA opened at $135.96 on Friday. Carvana Co. has a 12-month low of $25.09 and a 12-month high of $154.00. The stock has a market cap of $27.54 billion, a P/E ratio of 59.63 and a beta of 3.37. The business’s fifty day simple moving average is $123.58 and its 200-day simple moving average is $95.31. The company has a current ratio of 3.11, a quick ratio of 1.62 and a debt-to-equity ratio of 47.20.

Institutional Investors Weigh In On Carvana

Several institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in Carvana in the 4th quarter worth $117,000. International Assets Investment Management LLC acquired a new stake in shares of Carvana during the 4th quarter worth about $5,610,000. Stratos Wealth Partners LTD. bought a new position in Carvana in the 4th quarter valued at about $380,000. Imprint Wealth LLC bought a new stake in Carvana during the 4th quarter worth approximately $481,000. Finally, Rakuten Securities Inc. acquired a new position in shares of Carvana in the 4th quarter worth approximately $180,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CVNA. Royal Bank of Canada boosted their price objective on shares of Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a research note on Thursday, May 2nd. Wells Fargo & Company raised shares of Carvana from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $77.00 to $175.00 in a report on Thursday, August 1st. Wedbush restated a “neutral” rating and issued a $120.00 price target on shares of Carvana in a research report on Monday, July 29th. Piper Sandler increased their target price on shares of Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Robert W. Baird began coverage on shares of Carvana in a research report on Thursday, August 1st. They set a “neutral” rating and a $160.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $143.73.

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.