Carvana Co. (NYSE:CVNA) Major Shareholder Sells $9,937,500.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $132.50, for a total transaction of $9,937,500.00. Following the transaction, the insider now owns 2,165,814 shares in the company, valued at $286,970,355. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 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 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

Shares of NYSE CVNA opened at $123.41 on Thursday. Carvana Co. has a 1 year low of $25.09 and a 1 year high of $147.25. The firm’s 50 day moving average price is $118.05 and its 200 day moving average price is $88.24. The firm has a market cap of $25.00 billion, a P/E ratio of 54.13 and a beta of 3.37.

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

Analysts Set New Price Targets

Several brokerages have weighed in on CVNA. JPMorgan Chase & Co. upped their target price 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. TD Cowen upped their target price on shares of Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Evercore ISI upped their target price on shares of Carvana from $135.00 to $140.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 16th. Robert W. Baird increased their price target on shares of Carvana from $65.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, BTIG Research assumed coverage on shares of Carvana in a research report on Friday, July 12th. They issued a “buy” rating and a $155.00 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $100.93.

Institutional Trading of Carvana

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Carvana by 0.7% during the third quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock worth $393,268,000 after purchasing an additional 62,820 shares during the period. SG Americas Securities LLC purchased a new position in Carvana during the fourth quarter worth approximately $117,000. Raymond James Financial Services Advisors Inc. raised its stake in Carvana by 2.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 55,669 shares of the company’s stock worth $2,947,000 after purchasing an additional 1,125 shares during the period. PFG Investments LLC raised its stake in Carvana by 2.5% during the fourth quarter. PFG Investments LLC now owns 25,438 shares of the company’s stock worth $1,347,000 after purchasing an additional 615 shares during the period. Finally, Blue Trust Inc. purchased a new position in Carvana during the fourth quarter worth approximately $29,000. 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.