Carvana Co. (NYSE:CVNA) Major Shareholder Ernest C. Garcia II Sells 100,000 Shares

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $169.88, for a total value of $16,988,000.00. Following the sale, the insider now owns 39,258,131 shares in the company, valued at $6,669,171,294.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% 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 Monday, September 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $171.68, for a total transaction of $17,168,000.00.
• On Wednesday, September 25th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $170.51, for a total value 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 shares were 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 stock was 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 stock was sold at an average price of $135.73, for a total value of $10,179,750.00.
• On Thursday, September 5th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The stock was 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 value 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 value of $1,441,742.70.

Carvana Price Performance

NYSE CVNA traded up $1.63 during trading hours on Tuesday, reaching $175.74. The company’s stock had a trading volume of 3,495,103 shares, compared to its average volume of 5,035,189. Carvana Co. has a fifty-two week low of $25.09 and a fifty-two week high of $178.40. The stock has a market cap of $35.60 billion, a PE ratio of 76.39 and a beta of 3.43. 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’s 50-day moving average is $147.59 and its two-hundred day moving average is $119.53.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Analysts forecast that Carvana Co. will post 0.27 EPS for the current year.

Wall Street Analysts Forecast Growth

CVNA has been the topic of a number of recent research reports. Evercore ISI reaffirmed an “in-line” rating and set a $178.00 price target on shares of Carvana in a research note on Thursday, September 26th. Morgan Stanley lifted their target price on Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. Piper Sandler increased their price objective on Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. TD Cowen upped their price target on shares of Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised their price objective on Carvana from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $155.12.

Institutional Investors Weigh In On Carvana

A number of large investors have recently modified their holdings of CVNA. Ridgewood Investments LLC acquired a new position in shares of Carvana in the 2nd quarter worth approximately $32,000. Parallel Advisors LLC lifted its position in Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after purchasing an additional 194 shares during the last quarter. Summit Securities Group LLC boosted its position in shares of Carvana by 110.0% during the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after buying an additional 3,300 shares during the period. Fifth Third Bancorp grew its stake in shares of Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of Carvana during the 2nd quarter worth about $51,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.