Carvana Co. (NYSE:CVNA) Major Shareholder Sells $4,006,500.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 50,000 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $80.13, for a total value of $4,006,500.00. Following the completion of the sale, the insider now directly owns 3,312,500 shares of the company’s stock, valued at $265,430,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Carvana Trading Down 2.1 %

Shares of NYSE CVNA opened at $69.16 on Thursday. The stock has a 50 day simple moving average of $74.47 and a 200-day simple moving average of $51.99. The company has a market cap of $13.96 billion, a PE ratio of 128.08 and a beta of 3.32. Carvana Co. has a 12-month low of $6.70 and a 12-month high of $94.04.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.56 billion. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.97) EPS. Sell-side analysts forecast that Carvana Co. will post -3.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wedbush boosted their price objective on Carvana from $40.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, February 20th. Raymond James raised Carvana from an “underperform” rating to a “market perform” rating in a report on Friday, February 23rd. Royal Bank of Canada raised Carvana from an “underperform” rating to a “sector perform” rating and upped their target price for the company from $45.00 to $90.00 in a report on Friday, March 8th. Jefferies Financial Group raised Carvana from an “underperform” rating to a “hold” rating and upped their target price for the company from $30.00 to $85.00 in a report on Tuesday, March 12th. Finally, William Blair raised Carvana from a “market perform” rating to an “outperform” rating in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $50.53.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently added to or reduced their stakes in CVNA. Blue Trust Inc. acquired a new stake in Carvana in the fourth quarter worth approximately $29,000. Captrust Financial Advisors lifted its position in Carvana by 270.9% in the second quarter. Captrust Financial Advisors now owns 1,324 shares of the company’s stock worth $30,000 after purchasing an additional 967 shares during the period. Hanseatic Management Services Inc. acquired a new stake in Carvana in the third quarter worth approximately $34,000. Parallel Advisors LLC lifted its position in Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares during the period. Finally, Meeder Asset Management Inc. lifted its position in Carvana by 14,831.6% in the fourth quarter. Meeder Asset Management Inc. now owns 8,511 shares of the company’s stock worth $40,000 after purchasing an additional 8,454 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.