Carvana Co. (NYSE:CVNA) Major Shareholder Sells $17,464,000.00 in Stock

by · The Markets Daily

Carvana Co. (NYSE:CVNA – Get Free Report) major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $174.64, for a total transaction of $17,464,000.00. Following the transaction, the insider now directly owns 39,058,131 shares in the company, valued at approximately $6,821,111,997.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major 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 Friday, September 27th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were 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 shares were 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 transaction 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 transaction 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 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 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 transaction 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.

Carvana Stock Performance

CVNA stock opened at $180.17 on Friday. 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 stock has a market cap of $36.50 billion, a P/E ratio of 79.02 and a beta of 3.44. The firm has a 50 day simple moving average of $151.60 and a 200 day simple moving average of $121.68. Carvana Co. has a 52 week low of $25.09 and a 52 week high of $182.84.

Carvana (NYSE:CVNA – Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. Research analysts anticipate that Carvana Co. will post 0.27 earnings per share for the current fiscal year.

Institutional Trading of Carvana

A number of institutional investors have recently added to or reduced their stakes in the business. CWM LLC lifted its stake in Carvana by 19.5% in the second quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after acquiring an additional 144 shares during the last quarter. Great Valley Advisor Group Inc. lifted its stake in Carvana by 1.8% in the second quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock valued at $1,333,000 after acquiring an additional 182 shares during the last quarter. Parallel Advisors LLC lifted its stake 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 acquiring an additional 194 shares during the last quarter. American Century Companies Inc. lifted its stake in Carvana by 2.6% in the second quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock valued at $1,205,000 after acquiring an additional 241 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of Carvana in the second quarter valued at approximately $32,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CVNA. Citigroup raised their target price on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday. Piper Sandler raised their target price on shares of Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Robert W. Baird began coverage on shares of Carvana in a report on Thursday, August 1st. They issued a “neutral” rating and a $160.00 target price for the company. JMP Securities reiterated a “market outperform” rating and issued a $200.00 target price on shares of Carvana in a report on Monday, September 9th. Finally, Royal Bank of Canada upgraded shares of Carvana to a “sector perform” rating and raised their target price for the stock from $166.00 to $170.00 in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Carvana has an average rating of “Hold” and an average target price of $157.33.

Read Our Latest Stock Report on CVNA

Carvana Company Profile

(Get Free Report)

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.

Further Reading