Ernest C. Garcia III Sells 9,390 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 9,390 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.83, for a total value of $777,773.70. Following the transaction, the chief executive officer now directly owns 861,458 shares in the company, valued at approximately $71,354,566.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Carvana Stock Up 0.0 %

CVNA stock opened at $82.42 on Friday. The business has a fifty day moving average of $68.56 and a two-hundred day moving average of $49.79. The stock has a market cap of $16.64 billion, a price-to-earnings ratio of 152.63 and a beta of 3.32. Carvana Co. has a 52-week low of $6.70 and a 52-week high of $94.04.

Carvana (NYSE:CVNA) last posted its earnings results 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 business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the business posted ($0.97) earnings per share. The firm’s revenue was down 14.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Carvana Co. will post -3.4 EPS for the current year.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently modified their holdings of the company. Morgan Stanley grew its stake in shares of Carvana by 13.8% in the third quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock valued at $619,478,000 after buying an additional 1,784,009 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Carvana by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after buying an additional 655,603 shares in the last quarter. Spruce House Investment Management LLC grew its stake in shares of Carvana by 52.7% in the fourth quarter. Spruce House Investment Management LLC now owns 10,000,000 shares of the company’s stock valued at $47,400,000 after buying an additional 3,450,000 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Carvana by 3.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,346,602 shares of the company’s stock valued at $283,050,000 after buying an additional 165,379 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Carvana by 0.5% in the third quarter. FMR LLC now owns 4,696,510 shares of the company’s stock valued at $197,160,000 after buying an additional 24,560 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVNA. Jefferies Financial Group upgraded Carvana from an “underperform” rating to a “hold” rating and increased their price target for the stock from $30.00 to $85.00 in a research report on Tuesday, March 12th. William Blair upgraded Carvana from a “market perform” rating to an “outperform” rating in a research report on Friday, February 23rd. Royal Bank of Canada upgraded Carvana from an “underperform” rating to a “sector perform” rating and increased their price target for the stock from $45.00 to $90.00 in a research report on Friday, March 8th. JMP Securities increased their price target on Carvana from $60.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Friday, February 23rd. Finally, Morgan Stanley increased their price target on Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Carvana presently has an average rating of “Hold” and a consensus price target of $50.60.

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.