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 Carvana stock in a transaction on Friday, May 16th. The shares were sold at an average price of $300.15, for a total transaction of $3,001,500.00. Following the completion of the sale, the chief executive officer now owns 835,000 shares in the company, valued at approximately $250,625,250. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Carvana Stock Performance

Shares of CVNA opened at $301.87 on Wednesday. The business has a 50-day simple moving average of $225.94 and a two-hundred day simple moving average of $231.24. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. Carvana Co. has a 52 week low of $97.55 and a 52 week high of $311.88. The stock has a market cap of $64.64 billion, a price-to-earnings ratio of 192.27 and a beta of 3.61.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) 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 business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the prior year, the business posted $0.23 EPS. Carvana’s revenue for the quarter was up 38.3% compared to the same quarter last year. On average, analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Hedge Funds Weigh In On Carvana

A number of institutional investors and hedge funds have recently made changes to their positions in CVNA. Quent Capital LLC purchased a new stake in Carvana during the 4th quarter valued at $28,000. Brooklyn Investment Group raised its stake in Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after buying an additional 125 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after purchasing an additional 78 shares during the last quarter. Rialto Wealth Management LLC bought a new position in Carvana in the fourth quarter worth about $31,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Carvana in the first quarter valued at approximately $33,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CVNA shares. JMP Securities dropped their target price on shares of Carvana from $340.00 to $275.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 9th. Bank of America raised their price objective on shares of Carvana from $290.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Wedbush raised Carvana to a “hold” rating in a research report on Thursday, May 8th. Stephens reissued an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research report on Monday, March 3rd. Finally, Robert W. Baird raised their target price on Carvana from $200.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $269.18.

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.