Ernest C. Garcia II Sells 50,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 50,000 shares of the business’s stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $276.68, for a total value of $13,834,000.00. Following the completion of the transaction, the insider now directly owns 2,900 shares of the company’s stock, valued at $802,372. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major 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 Wednesday, April 28th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $295.24, for a total value of $14,762,000.00.
  • On Friday, April 16th, Ernest C. Garcia II sold 50,000 shares of Carvana stock. The stock was sold at an average price of $274.73, for a total value of $13,736,500.00.

NYSE:CVNA opened at $266.67 on Friday. The company has a debt-to-equity ratio of 3.13, a quick ratio of 1.71 and a current ratio of 3.78. Carvana Co. has a one year low of $106.14 and a one year high of $323.39. The stock has a 50-day simple moving average of $265.46. The firm has a market capitalization of $45.97 billion, a PE ratio of -130.08 and a beta of 2.40.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Thursday, May 6th. The company reported ($0.46) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.70) by $0.24. Carvana had a negative return on equity of 13.10% and a negative net margin of 2.19%. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the firm posted ($1.18) earnings per share. The company’s revenue was up 104.5% compared to the same quarter last year. As a group, equities research analysts expect that Carvana Co. will post -1.62 EPS for the current fiscal year.

CVNA has been the subject of a number of recent analyst reports. Cowen lifted their price objective on Carvana from $250.00 to $336.00 and gave the company an “outperform” rating in a research report on Tuesday, February 23rd. Morgan Stanley raised Carvana from an “equal weight” rating to an “overweight” rating and set a $420.00 price objective for the company in a research report on Friday, February 26th. Zacks Investment Research downgraded Carvana from a “hold” rating to a “sell” rating and set a $292.00 price objective for the company. in a research report on Monday, April 26th. Robert W. Baird lifted their price objective on Carvana from $285.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, February 16th. Finally, Raymond James initiated coverage on Carvana in a research report on Wednesday, April 7th. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $290.08.

A number of hedge funds and other institutional investors have recently made changes to their positions in CVNA. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Carvana by 50.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,700 shares of the company’s stock valued at $2,563,000 after buying an additional 3,609 shares in the last quarter. World Asset Management Inc raised its stake in Carvana by 5.2% during the fourth quarter. World Asset Management Inc now owns 1,035 shares of the company’s stock valued at $248,000 after buying an additional 51 shares in the last quarter. Creative Planning acquired a new stake in Carvana during the fourth quarter valued at approximately $213,000. Victory Capital Management Inc. raised its stake in Carvana by 3.2% during the fourth quarter. Victory Capital Management Inc. now owns 4,841 shares of the company’s stock valued at $1,160,000 after buying an additional 152 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in Carvana during the fourth quarter valued at approximately $1,856,000. Hedge funds and other institutional investors own 54.02% 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.

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Insider Buying and Selling by Quarter for Carvana (NYSE:CVNA)

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