Carvana Co. (NYSE:CVNA) Major Shareholder Sells $17,168,000.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $171.68, for a total value of $17,168,000.00. Following the completion of the transaction, the insider now owns 39,258,131 shares of the company’s stock, valued at $6,739,835,930.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more 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 Wednesday, October 2nd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $174.64, for a total transaction of $17,464,000.00.
• On Friday, September 27th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $169.88, for a total transaction of $16,988,000.00.
• On Wednesday, September 25th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $170.51, for a total transaction of $17,051,000.00.
• On Monday, September 23rd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $172.66, for a total value of $17,266,000.00.
• On Thursday, September 19th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $168.46, for a total value of $16,846,000.00.
• On Tuesday, September 17th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00.
• On Monday, September 9th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The shares were sold at an average price of $135.73, for a total transaction of $10,179,750.00.
• On Thursday, September 5th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The shares were sold at an average price of $141.72, for a total transaction of $10,629,000.00.
• On Friday, August 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $149.16, for a total transaction of $14,916,000.00.
• On Wednesday, August 28th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $155.69, for a total transaction of $15,569,000.00.

Carvana Stock Down 0.1 %

CVNA stock opened at $176.69 on Friday. The stock has a market capitalization of $35.79 billion, a P/E ratio of 77.50 and a beta of 3.43. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. The firm has a 50-day moving average price of $149.60 and a 200-day moving average price of $120.60. Carvana Co. has a 12 month low of $25.09 and a 12 month high of $179.93.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. As a group, equities research analysts anticipate that Carvana Co. will post 0.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CVNA. Bank of America reaffirmed a “buy” rating and issued a $185.00 target price on shares of Carvana in a research report on Tuesday, September 17th. Robert W. Baird initiated coverage on Carvana in a research report on Thursday, August 1st. They set a “neutral” rating and a $160.00 price objective on the stock. Wells Fargo & Company raised shares of Carvana from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $77.00 to $175.00 in a research report on Thursday, August 1st. Needham & Company LLC upped their price target on shares of Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Piper Sandler lifted their price objective 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. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Carvana currently has a consensus rating of “Hold” and a consensus price target of $157.33.

Institutional Investors Weigh In On Carvana

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC raised its position in Carvana by 19.5% in the second quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after purchasing an additional 144 shares during the last quarter. Great Valley Advisor Group Inc. raised its holdings in Carvana by 1.8% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock valued at $1,333,000 after buying an additional 182 shares during the last quarter. Parallel Advisors LLC boosted its position in Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after buying an additional 194 shares during the period. American Century Companies Inc. grew its holdings in Carvana by 2.6% during the 2nd quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock worth $1,205,000 after acquiring an additional 241 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Carvana in the 2nd quarter valued at approximately $32,000. Institutional investors 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.