Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III Sells 10,000 Shares

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $338.26, for a total value of $3,382,600.00. Following the completion of the transaction, the chief executive officer now owns 765,000 shares of the company’s stock, valued at approximately $258,768,900. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Carvana Price Performance

Shares of NYSE CVNA opened at $340.00 on Thursday. The firm has a market cap of $72.81 billion, a P/E ratio of 216.56 and a beta of 3.65. The business’s 50 day moving average is $267.47 and its 200-day moving average is $240.37. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. Carvana Co. has a 1-year low of $100.05 and a 1-year high of $351.43.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter last year, the firm earned $0.23 earnings per share. The company’s revenue was up 38.3% on a year-over-year basis. Equities research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CVNA shares. Evercore ISI cut their price objective on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, March 11th. Needham & Company LLC reiterated a “buy” rating and issued a $340.00 price target on shares of Carvana in a research note on Thursday, May 8th. Wells Fargo & Company boosted their price objective on shares of Carvana from $290.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. JMP Securities dropped their target price on shares of Carvana from $340.00 to $275.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 9th. Finally, Piper Sandler set a $340.00 price target on Carvana and gave the stock an “overweight” rating in a report on Thursday, May 22nd. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $280.35.

Institutional Trading of Carvana

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Carvana by 13.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after purchasing an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. increased its position in Carvana by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock valued at $2,620,785,000 after acquiring an additional 1,109,476 shares during the period. Norges Bank acquired a new position in Carvana during the 4th quarter worth about $179,364,000. Castle Hook Partners LP bought a new position in shares of Carvana during the fourth quarter worth about $116,020,000. Finally, BNP Paribas Financial Markets boosted its holdings in Carvana by 89.8% in the fourth quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company’s stock valued at $207,086,000 after acquiring an additional 481,912 shares during the last quarter. Institutional investors 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.