Carvana Co. (NYSE:CVNA) Major Shareholder Sells $19,720,000.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $197.20, for a total transaction of $19,720,000.00. Following the transaction, the insider now directly owns 37,458,131 shares of the company’s stock, valued at approximately $7,386,743,433.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more 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 Monday, October 21st, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $190.79, for a total transaction of $19,079,000.00.
• On Friday, October 18th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $191.37, for a total transaction of $19,137,000.00.
• On Wednesday, October 16th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $193.06, for a total value of $19,306,000.00.
• On Monday, October 14th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $190.47, for a total value of $19,047,000.00.
• On Friday, October 11th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $192.55, for a total value of $19,255,000.00.
• On Wednesday, October 9th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $190.70, for a total transaction of $19,070,000.00.
• On Monday, October 7th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $180.49, for a total value of $18,049,000.00.
• On Friday, October 4th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $179.06, for a total value of $17,906,000.00.
• 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 Monday, September 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $171.68, for a total transaction of $17,168,000.00.

Carvana Stock Up 1.2 %

Shares of CVNA stock traded up $2.31 during midday trading on Friday, reaching $202.53. 2,528,954 shares of the stock were exchanged, compared to its average volume of 4,804,938. The firm has a market cap of $41.03 billion, a PE ratio of 87.80 and a beta of 3.44. The company’s 50 day moving average is $167.04 and its two-hundred day moving average is $132.01. Carvana Co. has a 1 year low of $25.09 and a 1 year high of $203.72. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.23 billion. On average, equities research analysts predict that Carvana Co. will post 0.29 EPS for the current year.

Analysts Set New Price Targets

CVNA has been the subject of a number of research analyst reports. Piper Sandler upped their target price 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. Wedbush upped their price target on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. TD Cowen lifted their price objective on shares of Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Needham & Company LLC upped their target price on Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, DA Davidson lifted their price objective on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $182.29.

Institutional Investors Weigh In On Carvana

Several hedge funds and other institutional investors have recently made changes to their positions in CVNA. Price T Rowe Associates Inc. MD grew its holdings in Carvana by 39.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after buying an additional 2,112,463 shares in the last quarter. Sylebra Capital LLC bought a new stake in Carvana during the 2nd quarter valued at $67,686,000. Senator Investment Group LP bought a new position in Carvana during the 2nd quarter worth about $63,767,000. Driehaus Capital Management LLC boosted its stake in shares of Carvana by 124.9% during the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after purchasing an additional 323,153 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Carvana in the second quarter valued at about $39,997,000. 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.