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 stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $193.06, for a total value of $19,306,000.00. Following the sale, the insider now owns 38,058,131 shares in the company, valued at approximately $7,347,502,770.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, October 14th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $190.47, for a total value of $19,047,000.00.
• On Friday, October 11th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $192.55, for a total value 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 shares were 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 shares were sold at an average price of $171.68, for a total value 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 value 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 value 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.

Carvana Stock Down 0.6 %

Shares of NYSE:CVNA traded down $1.25 during midday trading on Thursday, reaching $192.15. 1,836,169 shares of the company were exchanged, compared to its average volume of 4,877,525. The firm has a market cap of $38.92 billion, a PE ratio of 84.28 and a beta of 3.44. Carvana Co. has a fifty-two week low of $25.09 and a fifty-two week high of $196.36. The stock has a fifty day simple moving average of $161.67 and a two-hundred day simple moving average of $128.12. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20.

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

Institutional Investors Weigh In On Carvana

Institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Carvana by 39.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after acquiring an additional 2,112,463 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after purchasing an additional 655,603 shares during the last quarter. Sylebra Capital LLC bought a new position in Carvana in the second quarter valued at $67,686,000. Senator Investment Group LP acquired a new stake in Carvana in the 2nd quarter valued at $63,767,000. Finally, Driehaus Capital Management LLC lifted its position in Carvana by 124.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after buying an additional 323,153 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CVNA shares. Bank of America boosted their price target on shares of Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Piper Sandler upped their target price on shares of Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised their price target on Carvana from $185.00 to $230.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Citigroup upped their price objective on Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company upgraded Carvana from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $77.00 to $175.00 in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Carvana currently has a consensus rating of “Hold” and an average price target of $171.76.

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.