Carvana (NYSE:CVNA) CEO Ernest Garcia III Sells 2,100 Shares

Carvana Co. (NYSE:CVNA) CEO Ernest Garcia III sold 2,100 shares of the firm’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $390.50, for a total transaction of $820,050.00. Following the sale, the chief executive officer directly owned 366,440 shares in the company, valued at approximately $143,094,820. The trade was a 0.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Carvana Stock Performance

Shares of CVNA stock opened at $369.90 on Tuesday. 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 50 day moving average price of $365.31 and a 200-day moving average price of $312.06. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33. The firm has a market capitalization of $79.60 billion, a PE ratio of 92.71, a P/E/G ratio of 1.23 and a beta of 3.55.

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

Institutional Investors Weigh In On Carvana

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC purchased a new stake in shares of Carvana in the third quarter worth $340,000. Corient Private Wealth LLC boosted its holdings in Carvana by 213.4% in the 2nd quarter. Corient Private Wealth LLC now owns 6,494 shares of the company’s stock worth $2,188,000 after buying an additional 4,422 shares during the period. American Trust bought a new position in Carvana in the 2nd quarter worth $394,000. Orion Porfolio Solutions LLC increased its stake in Carvana by 27.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 4,380 shares of the company’s stock worth $1,476,000 after buying an additional 940 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new stake in Carvana during the second quarter valued at about $228,000. Institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

CVNA has been the subject of a number of research reports. Needham & Company LLC upped their price objective on Carvana from $340.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Piper Sandler boosted their price target on Carvana from $340.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Stephens reiterated an “overweight” rating and issued a $440.00 price objective on shares of Carvana in a research note on Tuesday, September 23rd. JPMorgan Chase & Co. boosted their target price on shares of Carvana from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, September 17th. Finally, Oppenheimer raised shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 target price for the company in a report on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and an average price target of $404.94.

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.