Carvana Co. (NYSE:CVNA) Major Shareholder Ernest C. Garcia II Sells 100,000 Shares

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $170.51, for a total value of $17,051,000.00. Following the completion of the transaction, the insider now directly owns 39,458,131 shares of the company’s stock, valued at $6,728,005,916.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Ernest C. Garcia II also recently made the following trade(s):

• On Monday, September 23rd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $172.66, for a total value of $17,266,000.00.
• On Thursday, September 19th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $168.46, for a total transaction of $16,846,000.00.
• On Tuesday, September 17th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00.
• On Monday, September 9th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The shares were sold at an average price of $135.73, for a total transaction of $10,179,750.00.
• On Thursday, September 5th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The shares were sold at an average price of $141.72, for a total value of $10,629,000.00.
• On Friday, August 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $149.16, for a total value of $14,916,000.00.
• On Wednesday, August 28th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $155.69, for a total value of $15,569,000.00.
• On Monday, August 26th, Ernest C. Garcia II sold 9,186 shares of Carvana stock. The shares were sold at an average price of $156.95, for a total transaction of $1,441,742.70.
• On Friday, July 12th, Ernest C. Garcia II sold 37,500 shares of Carvana stock. The stock was sold at an average price of $136.63, for a total transaction of $5,123,625.00.

Carvana Stock Performance

NYSE CVNA opened at $169.78 on Friday. The stock has a market cap of $34.39 billion, a PE ratio of 74.46 and a beta of 3.43. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The firm has a 50-day moving average of $146.68 and a 200-day moving average of $118.57. Carvana Co. has a 52-week low of $25.09 and a 52-week high of $176.33.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.23 billion. On average, sell-side analysts anticipate that Carvana Co. will post 0.27 EPS for the current year.

Institutional Trading of Carvana

Hedge funds have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Carvana during the 2nd quarter worth $37,728,000. Maven Securities LTD acquired a new stake in Carvana in the 2nd quarter worth about $270,000. Senator Investment Group LP bought a new stake in Carvana in the 2nd quarter valued at about $63,767,000. Sylebra Capital LLC acquired a new position in shares of Carvana during the 2nd quarter worth approximately $67,686,000. Finally, Creative Planning increased its holdings in shares of Carvana by 34.4% during the second quarter. Creative Planning now owns 15,296 shares of the company’s stock worth $1,969,000 after purchasing an additional 3,913 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVNA has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Carvana from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Stephens began coverage on Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 target price on the stock. Needham & Company LLC raised their price target on Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. BTIG Research upped their price objective on Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Bank of America reissued a “buy” rating and issued a $185.00 target price on shares of Carvana in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, Carvana currently has a consensus rating of “Hold” and an average price target of $155.12.

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.