Carvana Co (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 145,513 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $56.39, for a total transaction of $8,205,478.07. Following the transaction, the insider now owns 52,937,458 shares in the company, valued at $2,985,143,256.62. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of CVNA stock opened at $57.97 on Thursday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.76 and a current ratio of 2.01. The stock has a market capitalization of $8.44 billion, a price-to-earnings ratio of -33.51 and a beta of 2.34. Carvana Co has a one year low of $20.07 and a one year high of $72.59.
Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, February 27th. The company reported ($0.55) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.49) by ($0.06). Carvana had a negative return on equity of 21.06% and a negative net margin of 3.16%. The company had revenue of $584.80 million during the quarter, compared to the consensus estimate of $601.14 million. During the same quarter in the prior year, the company earned ($0.36) earnings per share. Carvana’s revenue was up 120.6% on a year-over-year basis. On average, equities analysts forecast that Carvana Co will post -1.6 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HAP Trading LLC bought a new position in shares of Carvana during the fourth quarter valued at approximately $5,549,000. Credit Suisse AG bought a new position in shares of Carvana during the third quarter valued at approximately $201,000. BlackRock Inc. boosted its stake in shares of Carvana by 13.0% during the third quarter. BlackRock Inc. now owns 2,099,988 shares of the company’s stock valued at $124,088,000 after purchasing an additional 241,002 shares in the last quarter. First Mercantile Trust Co. boosted its stake in shares of Carvana by 34.1% during the fourth quarter. First Mercantile Trust Co. now owns 3,061 shares of the company’s stock valued at $100,000 after purchasing an additional 779 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of Carvana during the third quarter valued at approximately $216,000. Hedge funds and other institutional investors own 34.56% of the company’s stock.
A number of brokerages have commented on CVNA. Morgan Stanley began coverage on shares of Carvana in a research note on Monday, January 14th. They issued an “underweight” rating and a $23.00 target price on the stock. Seaport Global Securities began coverage on shares of Carvana in a research note on Wednesday, February 13th. They issued a “neutral” rating on the stock. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Carvana from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Wells Fargo & Co restated a “buy” rating and issued a $57.00 target price on shares of Carvana in a research note on Thursday, February 28th. Finally, BMO Capital Markets upped their target price on shares of Carvana from $35.00 to $40.00 and gave the stock a “market perform” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. Carvana currently has a consensus rating of “Buy” and a consensus target price of $54.09.
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Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up.
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