Carvana (NYSE:CVNA) CEO Ernest Garcia III Sells 4,800 Shares of Stock

Carvana Co. (NYSE:CVNA) CEO Ernest Garcia III sold 4,800 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $390.75, for a total value of $1,875,600.00. Following the completion of the transaction, the chief executive officer directly owned 386,440 shares of the company’s stock, valued at approximately $151,001,430. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Carvana Price Performance

Shares of NYSE:CVNA opened at $395.41 on Thursday. The firm has a 50 day moving average of $362.38 and a 200-day moving average of $306.14. The stock has a market capitalization of $85.09 billion, a PE ratio of 99.10, a PEG ratio of 1.23 and a beta of 3.55. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $413.33.

Carvana (NYSE:CVNA) last issued its earnings results 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 company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the previous year, the company earned ($0.05) EPS. The business’s revenue for the quarter was up 41.9% compared to the same quarter last year. On average, equities research analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CVNA has been the subject of a number of research analyst reports. William Blair reissued an “outperform” rating on shares of Carvana in a report on Wednesday, July 23rd. Gordon Haskett started coverage on Carvana in a research note on Monday, July 14th. They set a “hold” rating and a $329.00 target price for the company. Piper Sandler boosted their target price on Carvana from $340.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Bank of America upped 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. Finally, Needham & Company LLC upped their price objective on shares of Carvana from $340.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $404.94.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CVNA. Wealth Enhancement Advisory Services LLC increased its stake in shares of Carvana by 16.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,513 shares of the company’s stock valued at $511,000 after buying an additional 348 shares during the period. Wellington Management Group LLP increased its position in Carvana by 4.1% in the 4th quarter. Wellington Management Group LLP now owns 36,215 shares of the company’s stock valued at $7,365,000 after acquiring an additional 1,430 shares during the period. Versant Capital Management Inc increased its holdings in Carvana by 39.4% in the first quarter. Versant Capital Management Inc now owns 290 shares of the company’s stock valued at $61,000 after purchasing an additional 82 shares during the period. GAMMA Investing LLC increased its holdings in Carvana by 27,368.4% in the first quarter. GAMMA Investing LLC now owns 215,352 shares of the company’s stock valued at $45,026,000 after purchasing an additional 214,568 shares during the period. Finally, Rhumbline Advisers increased its holdings in Carvana by 5.7% in the first quarter. Rhumbline Advisers now owns 208,856 shares of the company’s stock valued at $43,668,000 after purchasing an additional 11,240 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.