Carvana Co. (NYSE:CVNA – Get Free Report) major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $126.97, for a total transaction of $9,522,750.00. Following the completion of the sale, the insider now directly owns 787,500 shares in the company, valued at approximately $99,988,875. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Carvana Price Performance
Shares of NYSE:CVNA opened at $128.72 on Friday. The business has a fifty day moving average price of $107.74 and a 200-day moving average price of $78.46. The company has a market capitalization of $26.07 billion, a PE ratio of 56.46 and a beta of 3.29. Carvana Co. has a 1-year low of $23.43 and a 1-year high of $136.92.
Carvana (NYSE:CVNA – Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, beating 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. On average, sell-side analysts anticipate that Carvana Co. will post -0.75 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Carvana
Wall Street Analyst Weigh In
Several analysts recently issued reports on CVNA shares. Jefferies Financial Group raised Carvana from an “underperform” rating to a “hold” rating and raised their target price for the stock from $30.00 to $85.00 in a research note on Tuesday, March 12th. Wells Fargo & Company boosted their target price on Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. TD Cowen raised their price target on Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Royal Bank of Canada boosted their price objective on shares of Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a research report on Thursday, May 2nd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $120.00 target price on shares of Carvana in a research report on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $87.29.
Check Out Our Latest Report on CVNA
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.
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