Ernest C. Garcia II Sells 75,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $131.19, for a total value of $9,839,250.00. Following the transaction, the insider now directly owns 1,090,814 shares in the company, valued at $143,103,888.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases 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 shares were sold at an average price of $136.63, for a total transaction of $5,123,625.00.

Carvana Stock Performance

NYSE CVNA traded up $2.55 during trading hours on Friday, hitting $135.96. The company had a trading volume of 2,471,471 shares, compared to its average volume of 5,489,632. The company has a quick ratio of 1.62, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. The firm has a market cap of $27.54 billion, a P/E ratio of 58.87 and a beta of 3.37. Carvana Co. has a fifty-two week low of $25.09 and a fifty-two week high of $154.00. The business has a fifty day simple moving average of $122.86 and a 200-day simple moving average of $94.70.

Institutional Trading of Carvana

A number of large investors have recently modified their holdings of CVNA. Renaissance Technologies LLC increased its stake in shares of Carvana by 12.2% in the second quarter. Renaissance Technologies LLC now owns 813,400 shares of the company’s stock valued at $104,701,000 after purchasing an additional 88,500 shares during the period. Dimensional Fund Advisors LP boosted its position in Carvana by 20.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 353,664 shares of the company’s stock worth $45,556,000 after acquiring an additional 59,482 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Carvana by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 33,805 shares of the company’s stock worth $4,351,000 after purchasing an additional 1,136 shares in the last quarter. Plato Investment Management Ltd raised its stake in shares of Carvana by 66.0% during the second quarter. Plato Investment Management Ltd now owns 1,036 shares of the company’s stock valued at $133,000 after purchasing an additional 412 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Carvana by 155.7% in the second quarter. Envestnet Asset Management Inc. now owns 23,278 shares of the company’s stock worth $2,996,000 after purchasing an additional 14,174 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. DA Davidson lifted their target price on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Morgan Stanley increased their price target on Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Evercore ISI dropped their price objective on Carvana from $150.00 to $142.00 and set an “in-line” rating on the stock in a report on Wednesday. Finally, Royal Bank of Canada increased their target price on Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $143.73.

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.