Carvana Co. (NYSE:CVNA) CEO Sells $777,773.70 in Stock

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 9,390 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $82.83, for a total transaction of $777,773.70. Following the completion of the transaction, the chief executive officer now directly owns 861,458 shares in the company, valued at $71,354,566.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Carvana Stock Up 1.7 %

Carvana stock opened at $83.86 on Friday. Carvana Co. has a 52 week low of $6.70 and a 52 week high of $94.04. The firm’s 50-day simple moving average is $69.40 and its 200 day simple moving average is $50.02. The firm has a market capitalization of $16.93 billion, a PE ratio of 155.30 and a beta of 3.32.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the company earned ($0.97) EPS. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. On average, research analysts expect that Carvana Co. will post -3.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on CVNA. Evercore ISI boosted their price objective on shares of Carvana from $75.00 to $78.00 and gave the company an “in-line” rating in a research note on Tuesday. William Blair upgraded shares of Carvana from a “market perform” rating to an “outperform” rating in a research report on Friday, February 23rd. Raymond James upgraded shares of Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. Wedbush boosted their target price on shares of Carvana from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada upgraded shares of Carvana from an “underperform” rating to a “sector perform” rating and boosted their target price for the stock from $45.00 to $90.00 in a research report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.60.

Institutional Investors Weigh In On Carvana

Several institutional investors and hedge funds have recently made changes to their positions in CVNA. Blue Trust Inc. purchased a new position in Carvana in the 4th quarter valued at about $29,000. Captrust Financial Advisors lifted its holdings in Carvana by 270.9% in the 2nd quarter. Captrust Financial Advisors now owns 1,324 shares of the company’s stock valued at $30,000 after purchasing an additional 967 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in Carvana in the 2nd quarter valued at about $33,000. Hanseatic Management Services Inc. purchased a new position in Carvana in the 3rd quarter valued at about $34,000. Finally, Parallel Advisors LLC lifted its holdings in Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after purchasing an additional 194 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

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.