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 company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $190.47, for a total transaction of $19,047,000.00. Following the transaction, the insider now owns 38,258,131 shares of the company’s stock, valued at $7,287,026,211.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 10% 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 Friday, October 11th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $192.55, for a total transaction of $19,255,000.00.
• On Wednesday, October 9th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $190.70, for a total transaction of $19,070,000.00.
• On Monday, October 7th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $180.49, for a total transaction of $18,049,000.00.
• On Friday, October 4th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $179.06, for a total transaction of $17,906,000.00.
• On Wednesday, October 2nd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $174.64, for a total transaction of $17,464,000.00.
• On Monday, September 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $171.68, for a total transaction of $17,168,000.00.
• On Friday, September 27th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $169.88, for a total transaction of $16,988,000.00.
• On Wednesday, September 25th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $170.51, for a total transaction of $17,051,000.00.
• 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 transaction of $17,266,000.00.
• On Thursday, September 19th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $168.46, for a total transaction of $16,846,000.00.

Carvana Stock Up 1.5 %

Shares of CVNA traded up $2.89 during trading hours on Tuesday, reaching $191.98. The company’s stock had a trading volume of 3,618,282 shares, compared to its average volume of 4,908,360. The firm has a market cap of $38.89 billion, a price-to-earnings ratio of 84.20 and a beta of 3.44. Carvana Co. has a 1-year low of $25.09 and a 1-year high of $194.75. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. The company has a 50 day moving average of $159.20 and a two-hundred day moving average of $127.21.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. As a group, research analysts predict that Carvana Co. will post 0.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. TD Cowen upped their price target on shares of Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Morgan Stanley upped their price target on shares of Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Piper Sandler upped their price target on shares of Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. DA Davidson upped their price objective on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird began coverage on shares of Carvana in a research note on Thursday, August 1st. They set a “neutral” rating and a $160.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Carvana presently has an average rating of “Hold” and a consensus price target of $171.76.

Hedge Funds Weigh In On Carvana

A number of hedge funds have recently added to or reduced their stakes in CVNA. Price T Rowe Associates Inc. MD increased its holdings in Carvana by 39.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after buying an additional 2,112,463 shares during the last quarter. Vanguard Group Inc. increased its holdings in Carvana by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after buying an additional 655,603 shares during the last quarter. Sylebra Capital LLC acquired a new position in Carvana in the second quarter worth approximately $67,686,000. Senator Investment Group LP acquired a new position in Carvana in the second quarter worth approximately $63,767,000. Finally, Driehaus Capital Management LLC boosted its position in Carvana by 124.9% during the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after purchasing an additional 323,153 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.