Ernest C. Garcia III Sells 18,100 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 18,100 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $116.24, for a total transaction of $2,103,944.00. Following the completion of the sale, the chief executive officer now owns 896,449 shares in the company, valued at $104,203,231.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Carvana Trading Up 4.5 %

Shares of NYSE:CVNA traded up $5.22 on Friday, reaching $121.72. 8,523,599 shares of the company’s stock were exchanged, compared to its average volume of 6,314,580. Carvana Co. has a twelve month low of $6.92 and a twelve month high of $124.20. The company has a fifty day moving average of $80.75 and a 200-day moving average of $55.27. The company has a market capitalization of $24.58 billion, a price-to-earnings ratio of 53.39 and a beta of 3.28.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the company earned ($0.97) earnings per share. Carvana’s quarterly revenue was down 14.6% compared to the same quarter last year. As a group, equities research analysts forecast that Carvana Co. will post -3.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CVNA has been the topic of a number of analyst reports. Wedbush increased their price target on shares of Carvana from $80.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday. Evercore ISI lowered their price objective on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Morgan Stanley lifted their price objective on shares of Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, February 26th. JPMorgan Chase & Co. upgraded shares of Carvana from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $130.00 in a report on Thursday. Finally, Robert W. Baird lifted their price objective on shares of Carvana from $65.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $73.44.

Institutional Trading of Carvana

Several large investors have recently modified their holdings of CVNA. Morgan Stanley grew its stake in Carvana by 13.8% during the third quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock worth $619,478,000 after buying an additional 1,784,009 shares in the last quarter. Vanguard Group Inc. grew its stake in Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after buying an additional 655,603 shares in the last quarter. FMR LLC grew its stake in Carvana by 0.5% during the third quarter. FMR LLC now owns 4,696,510 shares of the company’s stock worth $197,160,000 after buying an additional 24,560 shares in the last quarter. First Trust Advisors LP grew its stake in Carvana by 17.1% during the fourth quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock worth $78,560,000 after buying an additional 216,893 shares in the last quarter. Finally, Goodnow Investment Group LLC grew its stake in Carvana by 1.6% during the fourth quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock worth $77,532,000 after buying an additional 23,140 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

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.