Carvana Co. (NYSE:CVNA) Major Shareholder Sells $9,351,750.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $124.69, for a total transaction of $9,351,750.00. Following the transaction, the insider now directly owns 262,500 shares of the company’s stock, valued at $32,731,125. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Carvana Price Performance

CVNA stock traded up $5.27 during midday trading on Wednesday, reaching $130.97. The company had a trading volume of 7,468,263 shares, compared to its average volume of 5,593,961. The company has a market capitalization of $26.53 billion, a price-to-earnings ratio of 57.44 and a beta of 3.37. The stock has a 50 day moving average price of $115.26 and a 200-day moving average price of $82.54. Carvana Co. has a 1-year low of $25.09 and a 1-year high of $136.92.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $2.72 billion. As a group, research analysts anticipate that Carvana Co. will post -0.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CVNA. Vanguard Group Inc. raised its stake in Carvana by 0.7% in the third quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock valued at $393,268,000 after purchasing an additional 62,820 shares in the last quarter. Diversified Trust Co grew its position in Carvana by 6.0% in the fourth quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock valued at $300,000 after acquiring an additional 319 shares during the last quarter. SG Americas Securities LLC bought a new position in Carvana in the fourth quarter valued at about $117,000. Raymond James Financial Services Advisors Inc. grew its position in Carvana by 2.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 55,669 shares of the company’s stock valued at $2,947,000 after acquiring an additional 1,125 shares during the last quarter. Finally, PFG Investments LLC grew its position in Carvana by 2.5% in the fourth quarter. PFG Investments LLC now owns 25,438 shares of the company’s stock valued at $1,347,000 after acquiring an additional 615 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Ratings Changes

CVNA has been the subject of several analyst reports. Evercore ISI raised their target price on shares of Carvana from $118.00 to $135.00 and gave the company an “in-line” rating in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. raised their price target on Carvana from $130.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, June 10th. William Blair reaffirmed an “outperform” rating on shares of Carvana in a report on Thursday, May 2nd. Needham & Company LLC raised Carvana from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a report on Wednesday. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $150.00 price target on shares of Carvana in a report on Wednesday. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $93.27.

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.