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 Carvana stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $171.68, for a total transaction of $17,168,000.00. Following the completion of the sale, the insider now owns 39,258,131 shares of the company’s stock, valued at approximately $6,739,835,930.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major 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 Friday, September 27th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $169.88, for a total transaction of $16,988,000.00.
• 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 transaction 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 stock was 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 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 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 stock was sold at an average price of $141.72, for a total value 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 value 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 Stock Performance

CVNA stock traded up $1.63 during trading on Tuesday, hitting $175.74. The company had a trading volume of 3,495,103 shares, compared to its average volume of 5,035,189. The firm has a market cap of $35.60 billion, a PE ratio of 76.39 and a beta of 3.43. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. The firm has a 50-day moving average price of $147.59 and a 200-day moving average price of $119.53. Carvana Co. has a 1-year low of $25.09 and a 1-year high of $178.40.

Carvana (NYSE:CVNA) last issued 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 for the quarter, compared to analyst estimates of $3.23 billion. On average, analysts expect that Carvana Co. will post 0.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. DA Davidson increased their target price on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Bank of America reaffirmed a “buy” rating and set a $185.00 price target on shares of Carvana in a research report on Tuesday, September 17th. Evercore ISI reissued an “in-line” rating and set a $178.00 price target on shares of Carvana in a report on Thursday, September 26th. JMP Securities restated a “market outperform” rating and set a $200.00 price objective on shares of Carvana in a research report on Monday, September 9th. Finally, Needham & Company LLC boosted their price target on Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Carvana has a consensus rating of “Hold” and a consensus target price of $155.12.

Institutional Investors Weigh In On Carvana

Several institutional investors have recently modified their holdings of the company. Ridgewood Investments LLC purchased a new position in Carvana in the 2nd quarter valued at about $32,000. Parallel Advisors LLC raised its position in Carvana by 39.0% in the fourth 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 period. Summit Securities Group LLC increased its stake in Carvana by 110.0% during the 2nd 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 boosted its holdings in Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new position in Carvana during the 2nd quarter valued at $51,000. 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.