Ernest C. Garcia II Sells 60,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 60,000 shares of Carvana stock in a transaction on Monday, May 20th. The shares were sold at an average price of $118.20, for a total transaction of $7,092,000.00. Following the completion of the sale, the insider now owns 2,317,500 shares in the company, valued at $273,928,500. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Carvana Trading Up 0.6 %

Carvana stock opened at $115.72 on Thursday. The company has a market capitalization of $23.44 billion, a price-to-earnings ratio of 50.75 and a beta of 3.28. The stock’s 50 day moving average is $92.08 and its 200-day moving average is $64.04. Carvana Co. has a 12 month low of $10.68 and a 12 month high of $129.00.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $2.72 billion. As a group, equities research analysts predict that Carvana Co. will post -0.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CVNA shares. JMP Securities reaffirmed a “market outperform” rating and issued a $135.00 target price on shares of Carvana in a research report on Tuesday, May 14th. Raymond James upgraded Carvana from an “underperform” rating to a “market perform” rating in a research note on Friday, February 23rd. TD Cowen boosted their target price on shares of Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Needham & Company LLC reissued a “hold” rating on shares of Carvana in a research report on Thursday, May 2nd. Finally, William Blair reaffirmed an “outperform” rating on shares of Carvana in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $77.60.

Hedge Funds Weigh In On Carvana

Several institutional investors and hedge funds have recently modified their holdings of the business. Morgan Stanley boosted its holdings in Carvana by 13.8% in the 3rd quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock valued at $619,478,000 after purchasing an additional 1,784,009 shares during the period. Vanguard Group Inc. boosted its stake 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 buying an additional 266,972 shares during the period. Price T Rowe Associates Inc. MD increased its stake 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 worth $655,727,000 after acquiring an additional 2,112,463 shares during the period. FMR LLC raised its holdings in Carvana by 0.5% in the 3rd quarter. FMR LLC now owns 4,696,510 shares of the company’s stock valued at $197,160,000 after acquiring an additional 24,560 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Carvana by 17.1% during the 4th quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock valued at $78,560,000 after acquiring an additional 216,893 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.