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 firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $180.49, for a total transaction of $18,049,000.00. Following the sale, the insider now directly owns 38,658,131 shares of the company’s stock, valued at $6,977,406,064.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Ernest C. Garcia II also recently made the following trade(s):

• 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 transaction 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 value of $17,168,000.00.
• 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 value 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 value of $17,051,000.00.
• On Monday, September 23rd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was 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 value of $16,846,000.00.
• On Tuesday, September 17th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were 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 value of $10,179,750.00.
• On Thursday, September 5th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The shares were sold at an average price of $141.72, for a total value of $10,629,000.00.

Carvana Price Performance

NYSE:CVNA traded down $0.92 during mid-day trading on Wednesday, reaching $190.07. 2,587,807 shares of the stock were exchanged, compared to its average volume of 4,959,092. The business has a fifty day moving average price of $153.92 and a 200 day moving average price of $123.62. The firm has a market capitalization of $38.50 billion, a PE ratio of 83.60 and a beta of 3.44. Carvana Co. has a 1-year low of $25.09 and a 1-year high of $193.49. 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 issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Research analysts expect that Carvana Co. will post 0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carvana

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Carvana by 2.7% in the 1st 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its position 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. Lingotto Investment Management LLP boosted its position in Carvana by 1.4% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock worth $486,143,000 after acquiring an additional 52,833 shares during the period. Goodnow Investment Group LLC boosted its position in Carvana by 1.6% during the 4th quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock worth $77,532,000 after acquiring an additional 23,140 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Carvana by 12.2% during the 2nd quarter. Renaissance Technologies LLC now owns 813,400 shares of the company’s stock worth $104,701,000 after acquiring an additional 88,500 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CVNA shares. Piper Sandler raised their target price on Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Citigroup raised their target price on Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. DA Davidson raised their price target on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. JMP Securities reissued a “market outperform” rating and set a $200.00 price target on shares of Carvana in a report on Monday, September 9th. Finally, Needham & Company LLC raised their price target on Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $164.28.

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.