Ernest C. Garcia III Sells 10,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $344.64, for a total transaction of $3,446,400.00. Following the sale, the chief executive officer owned 556,440 shares of the company’s stock, valued at approximately $191,771,481.60. The trade was a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Carvana Stock Performance

NYSE CVNA opened at $350.17 on Thursday. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. Carvana Co. has a 1-year low of $124.39 and a 1-year high of $413.33. The business’s 50-day simple moving average is $337.83 and its 200-day simple moving average is $274.03. The firm has a market capitalization of $75.36 billion, a P/E ratio of 87.76, a P/E/G ratio of 1.14 and a beta of 3.57.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the prior year, the business earned ($0.05) EPS. Carvana’s quarterly revenue was up 41.9% compared to the same quarter last year. Equities analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CVNA. California Public Employees Retirement System lifted its stake in Carvana by 22.8% during the second quarter. California Public Employees Retirement System now owns 224,338 shares of the company’s stock worth $75,593,000 after purchasing an additional 41,709 shares during the last quarter. Cerity Partners LLC raised its stake in Carvana by 28.8% during the second quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock worth $1,847,000 after acquiring an additional 1,226 shares during the period. Federated Hermes Inc. lifted its holdings in Carvana by 37.9% in the second quarter. Federated Hermes Inc. now owns 118,238 shares of the company’s stock worth $39,841,000 after acquiring an additional 32,504 shares during the last quarter. Jump Financial LLC grew its holdings in shares of Carvana by 392.3% during the second quarter. Jump Financial LLC now owns 120,457 shares of the company’s stock valued at $40,589,000 after purchasing an additional 95,989 shares during the last quarter. Finally, Cliffwater LLC acquired a new stake in shares of Carvana during the 2nd quarter worth approximately $628,000. Institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CVNA. Morgan Stanley upped their target price on Carvana from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Wall Street Zen raised shares of Carvana from a “hold” rating to a “buy” rating in a research note on Saturday, July 5th. Wells Fargo & Company lifted their target price on shares of Carvana from $390.00 to $425.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Robert W. Baird upped their price target on shares of Carvana from $200.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Finally, Citigroup reissued an “outperform” rating on shares of Carvana in a research note on Thursday, July 31st. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $383.47.

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.