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 business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $180.49, for a total transaction of $18,049,000.00. Following the transaction, the insider now directly owns 38,658,131 shares in the company, valued at $6,977,406,064.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 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 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 value of $17,906,000.00.
• On Wednesday, October 2nd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $174.64, for a total value of $17,464,000.00.
• 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 value 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 value 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 value 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 shares were 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 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 Stock Performance

Shares of Carvana stock opened at $191.65 on Friday. The business has a fifty day simple moving average of $155.96 and a two-hundred day simple moving average of $124.56. The firm has a market capitalization of $38.82 billion, a P/E ratio of 84.06 and a beta of 3.44. 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 Co. has a 12 month low of $25.09 and a 12 month high of $193.49.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.23 billion. On average, equities analysts forecast that Carvana Co. will post 0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carvana

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Carvana by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after acquiring an additional 655,603 shares during the period. Driehaus Capital Management LLC grew its position in Carvana by 124.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after purchasing an additional 323,153 shares during the period. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV raised its stake in Carvana by 17.6% during the 4th quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock valued at $26,470,000 after buying an additional 75,000 shares during the last quarter. Tidal Investments LLC bought a new position in shares of Carvana during the 1st quarter valued at $1,783,000. Finally, US Bancorp DE boosted its stake in shares of Carvana by 724.5% in the 1st quarter. US Bancorp DE now owns 5,549 shares of the company’s stock worth $488,000 after buying an additional 4,876 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVNA has been the subject of a number of research reports. BTIG Research increased their price objective on Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Citigroup lifted 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, October 3rd. TD Cowen increased their price objective on Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Stephens started coverage on Carvana in a report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price objective for the company. Finally, Morgan Stanley upped their price target on shares of Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Carvana has a consensus rating of “Hold” and a consensus price target of $164.28.

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.