Carvana Co. (NYSE:CVNA) Major Shareholder Sells $10,213,500.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $136.18, for a total value of $10,213,500.00. Following the sale, the insider now owns 2,315,814 shares in the company, valued at approximately $315,367,550.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares 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 stock was sold at an average price of $136.63, for a total value of $5,123,625.00.

Carvana Stock Performance

CVNA stock opened at $130.06 on Friday. The stock’s 50 day simple moving average is $117.60 and its 200 day simple moving average is $86.55. Carvana Co. has a fifty-two week low of $25.09 and a fifty-two week high of $147.25. The company has a market cap of $26.35 billion, a P/E ratio of 57.04 and a beta of 3.37.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.35. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Equities analysts predict that Carvana Co. will post -0.75 earnings per share for the current year.

Analyst Ratings Changes

CVNA has been the topic of a number of research reports. Needham & Company LLC upgraded Carvana from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Wednesday, July 10th. JMP Securities reiterated a “market outperform” rating and issued a $150.00 price target on shares of Carvana in a research report on Wednesday, July 10th. Wells Fargo & Company upped their price target on Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Evercore ISI upped their price target on Carvana from $135.00 to $140.00 and gave the company an “in-line” rating in a research report on Tuesday, July 16th. Finally, TD Cowen upped their price target on Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $97.75.

Institutional Trading of Carvana

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. purchased a new stake in shares of Carvana in the fourth quarter worth approximately $29,000. Parallel Advisors LLC increased its position in shares of Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after acquiring an additional 194 shares during the last quarter. Tidemark LLC purchased a new stake in shares of Carvana during the fourth quarter valued at approximately $50,000. Plato Investment Management Ltd purchased a new stake in shares of Carvana during the first quarter valued at approximately $55,000. Finally, GAMMA Investing LLC increased its position in shares of Carvana by 127.9% during the second quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock valued at $59,000 after acquiring an additional 257 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.