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

by · The Markets Daily

Carvana Co. (NYSE:CVNA – Get Free Report) major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the transaction, the insider now directly owns 40,058,131 shares of the company’s stock, valued at approximately $6,209,010,305. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% 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 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 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 shares were 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 transaction of $1,441,742.70.
  • On Friday, July 12th, Ernest C. Garcia II sold 37,500 shares of Carvana stock. The shares were sold at an average price of $136.63, for a total value of $5,123,625.00.

Carvana Trading Up 1.8 %

Shares of CVNA opened at $173.78 on Friday. The stock’s fifty day simple moving average is $142.36 and its 200-day simple moving average is $114.44. 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 market capitalization of $35.20 billion, a PE ratio of 76.22 and a beta of 3.43. Carvana Co. has a 12-month low of $25.09 and a 12-month high of $176.33.

Carvana (NYSE:CVNA – Get Free Report) last issued 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 the consensus estimate of $3.23 billion. As a group, research analysts predict that Carvana Co. will post 0.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

CVNA has been the topic of several recent analyst reports. Needham & Company LLC boosted their price target on Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Stephens assumed coverage on shares of Carvana in a report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 target price on the stock. Wells Fargo & Company raised shares of Carvana from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $77.00 to $175.00 in a report on Thursday, August 1st. Bank of America reaffirmed a “buy” rating and set a $185.00 price objective on shares of Carvana in a research note on Tuesday. Finally, BTIG Research lifted their target price on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Carvana currently has a consensus rating of “Hold” and a consensus target price of $153.88.

Check Out Our Latest Analysis on CVNA

Hedge Funds Weigh In On Carvana

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of 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 during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Carvana by 39.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after buying an additional 2,112,463 shares during the period. Lingotto Investment Management LLP boosted its holdings in Carvana by 1.4% during the second quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock worth $486,143,000 after buying an additional 52,833 shares during the last quarter. First Trust Advisors LP grew its position in shares of Carvana by 17.1% during the 4th quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock worth $78,560,000 after buying an additional 216,893 shares during the period. Finally, Goodnow Investment Group LLC increased its stake in shares of Carvana by 1.6% in the 4th quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock valued at $77,532,000 after acquiring an additional 23,140 shares during the last quarter. 56.71% of the stock is owned by institutional investors.

About Carvana

(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.

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