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 stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $190.70, for a total transaction of $19,070,000.00. Following the transaction, the insider now owns 38,458,131 shares in the company, valued at approximately $7,333,965,581.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major 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, October 7th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $180.49, for a total transaction of $18,049,000.00.
• 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 transaction 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 stock was 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 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 shares were 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 value 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.

Carvana Trading Up 0.4 %

Carvana stock opened at $192.28 on Friday. The firm has a market cap of $39.79 billion, a PE ratio of 64.74 and a beta of 3.44. Carvana Co. has a 12 month low of $25.09 and a 12 month high of $194.75. The stock’s 50 day simple moving average is $157.06 and its two-hundred day simple moving average is $125.28. 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 (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Analysts anticipate that Carvana Co. will post 0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CVNA has been the subject of a number of research analyst reports. Wells Fargo & Company upgraded Carvana from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $77.00 to $175.00 in a research note on Thursday, August 1st. Wedbush increased their price objective on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Needham & Company LLC boosted their target price on shares of Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $200.00 price target on shares of Carvana in a report on Monday, September 9th. Finally, Evercore ISI reiterated an “in-line” rating and set a $178.00 price objective on shares of Carvana in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Carvana presently has an average rating of “Hold” and an average target price of $164.28.

Institutional Investors Weigh In On Carvana

Several hedge funds have recently modified their holdings of the company. Goodnow Investment Group LLC raised its holdings in Carvana by 1.6% in the 4th quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock worth $77,532,000 after purchasing an additional 23,140 shares during the period. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV lifted its position in shares of 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 in the last quarter. Wellington Management Group LLP acquired a new stake in Carvana in the 4th quarter valued at $4,703,000. Vanguard Group Inc. increased its holdings in Carvana by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after acquiring an additional 655,603 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Carvana by 63.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,481 shares of the company’s stock worth $131,000 after acquiring an additional 965 shares during the period. 56.71% of the stock is owned by hedge funds and other 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.