Carvana Co. (NYSE:CVNA) Major Shareholder Ernest C. Garcia II Sells 15,814 Shares

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 15,814 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $201.16, for a total value of $3,181,144.24. Following the sale, the insider now directly owns 37,442,317 shares of the company’s stock, valued at $7,531,896,487.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own 10% or more 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 Wednesday, October 23rd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $197.20, for a total value of $19,720,000.00.
• On Monday, October 21st, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $190.79, for a total value of $19,079,000.00.
• On Friday, October 18th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $191.37, for a total value of $19,137,000.00.
• On Wednesday, October 16th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $193.06, for a total value of $19,306,000.00.
• On Monday, October 14th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $190.47, for a total value of $19,047,000.00.
• On Friday, October 11th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $192.55, for a total value of $19,255,000.00.
• On Wednesday, October 9th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $190.70, for a total value of $19,070,000.00.
• On Monday, October 7th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $180.49, for a total value of $18,049,000.00.
• On Friday, October 4th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $179.06, for a total value of $17,906,000.00.
• On Wednesday, October 2nd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $174.64, for a total value of $17,464,000.00.

Carvana Trading Up 1.2 %

Shares of NYSE CVNA traded up $2.38 during midday trading on Friday, hitting $202.60. The company’s stock had a trading volume of 2,529,143 shares, compared to its average volume of 4,804,938. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. The business’s 50 day moving average is $167.04 and its two-hundred day moving average is $132.01. Carvana Co. has a 12-month low of $25.09 and a 12-month high of $203.72. The firm has a market cap of $41.04 billion, a P/E ratio of 87.80 and a beta of 3.44.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.23 billion. As a group, equities research analysts expect that Carvana Co. will post 0.29 EPS for the current year.

Analyst Upgrades and Downgrades

CVNA has been the subject of a number of research reports. Evercore ISI increased their price target on Carvana from $178.00 to $182.00 and gave the company an “in-line” rating in a research note on Tuesday. TD Cowen increased their price target on Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. BTIG Research increased their price target on Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. increased their price target on Carvana from $185.00 to $230.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley upped their price objective on Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Carvana currently has a consensus rating of “Hold” and a consensus price target of $182.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ridgewood Investments LLC bought a new position in Carvana in the second quarter worth approximately $32,000. Sugarloaf Wealth Management LLC bought a new stake in Carvana during the 3rd quarter valued at $32,000. Summit Securities Group LLC boosted its position in Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 3,300 shares in the last quarter. Fifth Third Bancorp boosted its position in Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after acquiring an additional 275 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Carvana during the 2nd quarter valued at $51,000. Institutional investors own 56.71% of the company’s stock.

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.