Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III Sells 10,000 Shares

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 10,000 shares of the company’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $328.00, for a total transaction of $3,280,000.00. Following the sale, the chief executive officer now directly owns 750,000 shares in the company, valued at approximately $246,000,000. The trade was a 1.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Carvana Stock Performance

CVNA opened at $296.71 on Friday. Carvana Co. has a 12-month low of $100.05 and a 12-month high of $351.43. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The firm has a market capitalization of $63.54 billion, a PE ratio of 188.99 and a beta of 3.65. The firm has a 50 day moving average of $272.91 and a two-hundred day moving average of $241.05.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.76. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Carvana’s revenue for the quarter was up 38.3% compared to the same quarter last year. During the same period last year, the firm posted $0.23 EPS. On average, analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Institutional Investors Weigh In On Carvana

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Yousif Capital Management LLC grew its stake in shares of Carvana by 4.1% during the 1st quarter. Yousif Capital Management LLC now owns 1,266 shares of the company’s stock worth $265,000 after purchasing an additional 50 shares during the period. Fidelis Capital Partners LLC grew its stake in Carvana by 3.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock valued at $313,000 after acquiring an additional 51 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Carvana by 5.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company’s stock valued at $256,000 after acquiring an additional 60 shares during the period. Commerce Bank grew its stake in Carvana by 1.6% in the 1st quarter. Commerce Bank now owns 4,446 shares of the company’s stock valued at $930,000 after acquiring an additional 69 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in Carvana by 3.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company’s stock valued at $466,000 after acquiring an additional 72 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. Evercore ISI reduced their target price on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research note on Tuesday, March 11th. Robert W. Baird upped their price target on shares of Carvana from $200.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Piper Sandler set a $340.00 price target on shares of Carvana and gave the stock an “overweight” rating in a report on Thursday, May 22nd. Finally, Stephens reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a research report on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $280.35.

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.