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

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $155.69, for a total transaction of $15,569,000.00. Following the sale, the insider now owns 41,233,131 shares of the company’s stock, valued at $6,419,586,165.39. The transaction was disclosed in a document filed 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 Monday, August 26th, Ernest C. Garcia II sold 9,186 shares of Carvana stock. The shares were 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 Price Performance

Shares of Carvana stock opened at $149.29 on Friday. The stock has a 50 day moving average of $136.44 and a 200 day moving average of $105.70. Carvana Co. has a 12 month low of $25.09 and a 12 month high of $159.85. The company has a current ratio of 3.11, a quick ratio of 1.62 and a debt-to-equity ratio of 47.20. The firm has a market cap of $30.24 billion, a PE ratio of 65.82 and a beta of 3.37.

Institutional Trading of Carvana

A number of large investors have recently made changes to their positions in CVNA. Ridgewood Investments LLC bought a new stake in Carvana in the second quarter worth $32,000. Parallel Advisors LLC boosted its stake in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares during the period. Summit Securities Group LLC grew its holdings in Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares during the last quarter. Fifth Third Bancorp raised its position in Carvana by 450.8% in the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares during the period. Finally, Tidemark LLC bought a new stake in Carvana in the fourth quarter worth about $50,000. 56.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. DA Davidson boosted their price target on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Robert W. Baird started coverage on shares of Carvana in a report on Thursday, August 1st. They set a “neutral” rating and a $160.00 price objective for the company. 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. JPMorgan Chase & Co. upped their price objective on Carvana from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, Wedbush upgraded Carvana to a “neutral” rating and lifted their target price for the company from $120.00 to $150.00 in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Carvana presently has a consensus rating of “Hold” and an average price target of $148.40.

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.