Carvana Co. (NYSE:CVNA – Get Free Report) major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $131.76, for a total value of $9,882,000.00. Following the sale, the insider now owns 637,500 shares of the company’s stock, valued at $83,997,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Carvana Price Performance
Carvana stock opened at $124.29 on Tuesday. The firm has a market cap of $25.18 billion, a P/E ratio of 54.51 and a beta of 3.37. The stock’s 50 day moving average is $108.80 and its 200 day moving average is $79.21. Carvana Co. has a one year low of $23.43 and a one year high of $136.92.
Carvana (NYSE:CVNA – Get Free Report) last announced its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.35. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.72 billion. Equities analysts anticipate that Carvana Co. will post -0.75 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Check Out Our Latest Research Report on CVNA
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley boosted its stake in Carvana by 13.8% during the third quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock worth $619,478,000 after acquiring an additional 1,784,009 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Carvana by 2.7% during the first quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock worth $904,642,000 after purchasing an additional 266,972 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Carvana by 39.5% in 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 purchasing an additional 2,112,463 shares in the last quarter. First Trust Advisors LP grew its position in Carvana by 17.1% in the 4th 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 increased its stake in Carvana by 1.6% during the 4th 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 in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.
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.
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