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

Carvana Co. (NYSE:CVNA) CEO Ernest Garcia III sold 10,000 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $361.45, for a total value of $3,614,500.00. Following the transaction, the chief executive officer owned 506,440 shares of the company’s stock, valued at approximately $183,052,738. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Carvana Stock Up 2.6%

Shares of NYSE:CVNA traded up $9.50 during mid-day trading on Tuesday, reaching $371.62. 2,295,663 shares of the stock were exchanged, compared to its average volume of 4,118,306. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. The company has a market cap of $79.97 billion, a P/E ratio of 93.14, a P/E/G ratio of 1.18 and a beta of 3.57. Carvana Co. has a one year low of $124.39 and a one year high of $413.33. The stock’s 50 day simple moving average is $341.53 and its 200-day simple moving average is $279.82.

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

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Carvana from $350.00 to $415.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Evercore ISI raised their price target on Carvana from $365.00 to $370.00 and gave the company an “in-line” rating in a research note on Tuesday, August 12th. Needham & Company LLC raised their price target on Carvana from $340.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. William Blair restated an “outperform” rating on shares of Carvana in a research note on Wednesday, July 23rd. Finally, Robert W. Baird raised their price target on Carvana from $200.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $383.47.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. bought a new position in shares of Carvana during the 2nd quarter worth approximately $228,000. Marex Group plc acquired a new stake in Carvana during the 2nd quarter worth approximately $4,824,000. State of Wyoming lifted its holdings in Carvana by 27.0% during the 2nd quarter. State of Wyoming now owns 1,149 shares of the company’s stock worth $387,000 after purchasing an additional 244 shares during the last quarter. Pitcairn Co. acquired a new stake in Carvana during the 2nd quarter worth approximately $482,000. Finally, Hudson Bay Capital Management LP lifted its holdings in Carvana by 158.0% during the 2nd quarter. Hudson Bay Capital Management LP now owns 16,478 shares of the company’s stock worth $5,552,000 after purchasing an additional 10,090 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors.

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.