Ernest Garcia III Sells 7,400 Shares of Carvana (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) CEO Ernest Garcia III sold 7,400 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $373.89, for a total value of $2,766,786.00. Following the completion of the transaction, the chief executive officer owned 396,440 shares in the company, valued at $148,224,951.60. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Carvana Trading Up 6.0%

CVNA traded up $22.11 during trading hours on Monday, reaching $391.40. The company’s stock had a trading volume of 3,930,218 shares, compared to its average volume of 3,915,266. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $413.33. The stock has a market cap of $84.23 billion, a PE ratio of 98.10, a P/E/G ratio of 1.21 and a beta of 3.51. The business’s 50-day moving average is $359.61 and its 200-day moving average is $303.54. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.19. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm’s quarterly revenue was up 41.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.05) earnings per share. As a group, equities research analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Citigroup reissued an “outperform” rating on shares of Carvana in a research report on Thursday, July 31st. Needham & Company LLC boosted their target price on Carvana from $340.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Bank of America boosted their target price on Carvana from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Evercore ISI boosted their target price on Carvana from $365.00 to $370.00 and gave the company an “in-line” rating in a research report on Tuesday, August 12th. Finally, Royal Bank Of Canada upped their price objective on Carvana from $400.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $387.88.

Hedge Funds Weigh In On Carvana

Large investors have recently bought and sold shares of the business. J.Safra Asset Management Corp increased its holdings in Carvana by 140.8% in the first quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company’s stock valued at $709,000 after buying an additional 1,982 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Carvana by 333.1% in the first quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company’s stock valued at $740,000 after buying an additional 2,678 shares during the last quarter. Berkshire Capital Holdings Inc. increased its holdings in Carvana by 632,200.0% in the first quarter. Berkshire Capital Holdings Inc. now owns 63,230 shares of the company’s stock valued at $13,220,000 after buying an additional 63,220 shares during the last quarter. Mackenzie Financial Corp purchased a new position in Carvana in the fourth quarter valued at $1,153,000. Finally, Praxis Investment Management Inc. increased its holdings in Carvana by 56.0% in the first quarter. Praxis Investment Management Inc. now owns 4,400 shares of the company’s stock valued at $920,000 after buying an additional 1,580 shares during the last quarter. Hedge funds and other 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.