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 Carvana stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 39,058,131 shares in the company, valued at approximately $6,821,111,997.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions 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 stock was 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 stock was 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 shares were sold at an average price of $155.69, for a total transaction of $15,569,000.00.

Carvana Stock Up 2.0 %

Shares of NYSE CVNA opened at $180.17 on Friday. The firm’s 50-day simple moving average is $151.60 and its 200 day simple moving average is $121.68. The company has a market cap of $36.50 billion, a price-to-earnings ratio of 79.02 and a beta of 3.44. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. Carvana Co. has a 12-month low of $25.09 and a 12-month high of $182.84.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.23 billion. On average, research analysts expect that Carvana Co. will post 0.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on CVNA shares. Wedbush raised shares of Carvana to a “neutral” rating and boosted their price target for the company from $120.00 to $150.00 in a report on Monday, August 19th. DA Davidson boosted their price target on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Wells Fargo & Company raised shares of Carvana from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $77.00 to $175.00 in a report on Thursday, August 1st. Robert W. Baird started coverage on shares of Carvana in a report on Thursday, August 1st. They issued a “neutral” rating and a $160.00 price target on the stock. Finally, Bank of America reissued a “buy” rating and issued a $185.00 price target on shares of Carvana in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Carvana has a consensus rating of “Hold” and a consensus price target of $157.33.

Institutional Trading of Carvana

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVNA. Ridgewood Investments LLC bought a new stake in Carvana during the 2nd quarter worth about $32,000. Parallel Advisors LLC raised its holdings in 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 last quarter. Summit Securities Group LLC raised its holdings in Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 3,300 shares during the last quarter. Fifth Third Bancorp raised its holdings in Carvana by 450.8% during 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 last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Carvana during the 2nd quarter worth about $51,000. 56.71% of the stock is owned by institutional investors.

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.