Carvana (NYSE:CVNA) CEO Ernest Garcia III Sells 10,000 Shares of Stock

Carvana Co. (NYSE:CVNA) CEO Ernest Garcia III sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $371.36, for a total transaction of $3,713,600.00. Following the completion of the sale, the chief executive officer owned 461,440 shares of the company’s stock, valued at $171,360,358.40. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Carvana Price Performance

NYSE:CVNA opened at $375.06 on Wednesday. Carvana Co. has a one year low of $124.39 and a one year high of $413.33. The company has a market cap of $80.71 billion, a P/E ratio of 94.00, a P/E/G ratio of 1.23 and a beta of 3.51. The firm’s fifty day moving average price is $353.23 and its two-hundred day moving average price is $287.52. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the company earned ($0.05) earnings per share. The company’s quarterly revenue was up 41.9% on a year-over-year basis. Equities analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Institutional Investors Weigh In On Carvana

Institutional investors and hedge funds have recently bought and sold shares of the company. Warren Street Wealth Advisors LLC increased its stake in shares of Carvana by 2.8% during the 2nd quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company’s stock worth $388,000 after purchasing an additional 31 shares during the last quarter. MAI Capital Management increased its holdings in Carvana by 1.8% in the 2nd quarter. MAI Capital Management now owns 1,757 shares of the company’s stock worth $592,000 after acquiring an additional 31 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its holdings in Carvana by 1.7% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock worth $622,000 after acquiring an additional 31 shares during the last quarter. Yousif Capital Management LLC increased its holdings in Carvana by 4.1% in the 1st quarter. Yousif Capital Management LLC now owns 1,266 shares of the company’s stock worth $265,000 after acquiring an additional 50 shares during the last quarter. Finally, Kingsview Wealth Management LLC increased its holdings in Carvana by 1.2% in the 2nd quarter. Kingsview Wealth Management LLC now owns 4,611 shares of the company’s stock worth $1,554,000 after acquiring an additional 53 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

CVNA has been the subject of several research reports. Royal Bank Of Canada raised their price objective on shares of Carvana from $400.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of Carvana from $350.00 to $415.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Bank of America raised their price objective on shares of Carvana from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Morgan Stanley raised their price objective on shares of Carvana from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Finally, William Blair restated an “outperform” rating on shares of Carvana in a research report on Wednesday, July 23rd. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Carvana has a consensus rating of “Moderate Buy” and a consensus price target of $383.47.

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.