Carvana Co. (NYSE:CVNA) Major Shareholder Ernest C. Garcia II Sells 5,799 Shares

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 5,799 shares of Carvana stock in a transaction that occurred on Tuesday, May 11th. The stock was sold at an average price of $243.94, for a total value of $1,414,608.06. Following the completion of the sale, the insider now directly owns 3,600 shares in the company, valued at approximately $878,184. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major 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 Wednesday, April 28th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $295.24, for a total value of $14,762,000.00.
  • On Friday, April 16th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $274.73, for a total value of $13,736,500.00.

Shares of CVNA stock traded down $2.67 during mid-day trading on Thursday, hitting $223.87. The stock had a trading volume of 1,942,658 shares, compared to its average volume of 1,482,543. Carvana Co. has a 12-month low of $83.10 and a 12-month high of $323.39. The firm has a market capitalization of $38.56 billion, a P/E ratio of -83.31 and a beta of 2.52. The firm’s 50-day moving average is $269.78 and its two-hundred day moving average is $261.12. The company has a debt-to-equity ratio of 1.12, a current ratio of 3.18 and a quick ratio of 1.42.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Thursday, May 6th. The company reported ($0.46) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.70) by $0.24. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $1.89 billion. Carvana had a negative return on equity of 43.19% and a negative net margin of 3.06%. The business’s revenue for the quarter was up 104.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.18) EPS. Analysts expect that Carvana Co. will post -2.29 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cardan Capital Partners LLC raised its position in shares of Carvana by 2.7% in the 1st quarter. Cardan Capital Partners LLC now owns 14,413 shares of the company’s stock worth $3,782,000 after acquiring an additional 376 shares in the last quarter. State of Wisconsin Investment Board raised its position in shares of Carvana by 338.3% in the 4th quarter. State of Wisconsin Investment Board now owns 32,092 shares of the company’s stock worth $7,687,000 after acquiring an additional 24,770 shares in the last quarter. KBC Group NV raised its position in shares of Carvana by 63.2% in the 1st quarter. KBC Group NV now owns 7,564 shares of the company’s stock worth $1,985,000 after acquiring an additional 2,930 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Carvana by 13.2% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 75,053 shares of the company’s stock worth $17,978,000 after acquiring an additional 8,760 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Carvana in the 4th quarter worth $1,068,000. 48.41% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on CVNA. Cowen boosted their target price on Carvana from $250.00 to $336.00 and gave the company an “outperform” rating in a research report on Monday, March 1st. Raymond James began coverage on Carvana in a research report on Tuesday, April 13th. They set a “market perform” rating on the stock. Zacks Investment Research downgraded Carvana from a “hold” rating to a “sell” rating and set a $292.00 target price on the stock. in a research report on Monday, April 26th. Robert W. Baird boosted their target price on Carvana from $285.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, February 16th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on Carvana from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $276.00.

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.

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Insider Buying and Selling by Quarter for Carvana (NYSE:CVNA)

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