Carvana Co. (NYSE:CVNA – Get Free Report) 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
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.
Read Our Latest Stock Analysis on CVNA
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.
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