Carvana Co. (NYSE:CVNA) Major Shareholder Sells $17,464,000.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $174.64, for a total value of $17,464,000.00. Following the completion of the transaction, the insider now directly owns 39,058,131 shares in the company, valued at $6,821,111,997.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 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 shares were sold at an average price of $171.68, for a total transaction of $17,168,000.00.
• On Friday, September 27th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $169.88, for a total value of $16,988,000.00.
• On Wednesday, September 25th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $170.51, for a total transaction 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 shares were 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 value 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 stock was 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 shares were sold at an average price of $149.16, for a total transaction of $14,916,000.00.
• On Wednesday, August 28th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $155.69, for a total transaction of $15,569,000.00.

Carvana Price Performance

Shares of NYSE CVNA opened at $180.18 on Friday. The firm has a market capitalization of $36.50 billion, a P/E ratio of 79.03 and a beta of 3.43. The firm’s 50-day moving average price is $150.65 and its 200-day moving average price is $120.99. 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 Co. has a 1-year low of $25.09 and a 1-year high of $182.84.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Royal Bank of Canada upgraded shares of Carvana to a “sector perform” rating and upped their price target for the stock from $166.00 to $170.00 in a report on Monday, August 19th. Stephens initiated coverage on Carvana in a research report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 target price for the company. Citigroup boosted their price target on Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday. Wells Fargo & Company upgraded shares of Carvana from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $77.00 to $175.00 in a report on Thursday, August 1st. Finally, Evercore ISI reissued an “in-line” rating and set a $178.00 target price on shares of Carvana in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $157.33.

Institutional Trading of Carvana

Several hedge funds have recently bought and sold shares of the business. CWM LLC lifted its stake in shares of Carvana by 19.5% in the second quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after buying an additional 144 shares in the last quarter. Great Valley Advisor Group Inc. boosted its stake in 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 purchasing an additional 182 shares during the last quarter. Parallel Advisors LLC increased its holdings in 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 in the last quarter. American Century Companies Inc. raised its stake in shares of Carvana by 2.6% in the second 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 bought a new position in shares of Carvana in the second quarter valued at approximately $32,000. 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.