Carvana Co. (NYSE:CVNA) Major Shareholder Sells $17,266,000.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $172.66, for a total transaction of $17,266,000.00. Following the transaction, the insider now owns 39,658,131 shares in the company, valued at $6,847,372,898.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 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 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 Thursday, September 19th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $168.46, for a total transaction 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 transaction 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 shares were 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 stock was sold at an average price of $155.69, for a total transaction of $15,569,000.00.
• On Monday, August 26th, Ernest C. Garcia II sold 9,186 shares of Carvana stock. The stock was sold at an average price of $156.95, for a total transaction of $1,441,742.70.
• 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 transaction of $5,123,625.00.

Carvana Stock Down 0.9 %

CVNA opened at $169.72 on Friday. Carvana Co. has a fifty-two week low of $25.09 and a fifty-two week high of $176.33. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The company has a fifty day moving average of $146.68 and a two-hundred day moving average of $118.27. The stock has a market capitalization of $34.38 billion, a price-to-earnings ratio of 74.44 and a beta of 3.43.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.23 billion. On average, research analysts expect that Carvana Co. will post 0.27 earnings per share for the current year.

Institutional Trading of Carvana

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Carvana by 2.7% in the first quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock valued at $904,642,000 after purchasing an additional 266,972 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Carvana by 39.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after purchasing an additional 2,112,463 shares during the period. Lingotto Investment Management LLP grew its position in shares of Carvana by 1.4% in the second quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock valued at $486,143,000 after purchasing an additional 52,833 shares during the period. First Trust Advisors LP grew its position in shares of Carvana by 17.1% in the fourth quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock valued at $78,560,000 after purchasing an additional 216,893 shares during the period. Finally, Goodnow Investment Group LLC grew its position in shares of Carvana by 1.6% in the fourth quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock valued at $77,532,000 after purchasing an additional 23,140 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CVNA shares. Wells Fargo & Company raised shares of Carvana from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $77.00 to $175.00 in a report on Thursday, August 1st. DA Davidson raised their price target on shares of Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Bank of America reaffirmed a “buy” rating and issued a $185.00 price target on shares of Carvana in a report on Tuesday, September 17th. JMP Securities reissued a “market outperform” rating and set a $200.00 target price on shares of Carvana in a report on Monday, September 9th. Finally, Needham & Company LLC raised their target price on shares of Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, Carvana currently has a consensus rating of “Hold” and a consensus target price of $155.12.

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.