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

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $191.37, for a total value of $19,137,000.00. Following the transaction, the insider now owns 37,858,131 shares of the company’s stock, valued at $7,244,910,529.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more 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 Wednesday, October 16th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $193.06, for a total value of $19,306,000.00.
• On Monday, October 14th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $190.47, for a total value of $19,047,000.00.
• On Friday, October 11th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $192.55, for a total transaction of $19,255,000.00.
• On Wednesday, October 9th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $190.70, for a total transaction of $19,070,000.00.
• 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 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 stock was 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.

Carvana Price Performance

CVNA stock opened at $191.74 on Tuesday. The business’s fifty day moving average price is $162.78 and its 200 day moving average price is $129.50. Carvana Co. has a 12-month low of $25.09 and a 12-month high of $196.36. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. The company has a market capitalization of $38.84 billion, a PE ratio of 83.99 and a beta of 3.44.

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 business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.23 billion. On average, sell-side analysts anticipate that Carvana Co. will post 0.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVNA. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price objective on shares of Carvana in a report on Monday, September 9th. Robert W. Baird assumed coverage on Carvana in a report on Thursday, August 1st. They issued a “neutral” rating and a $160.00 price objective on the stock. BTIG Research increased their target price on Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC lifted their price target on Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Citigroup increased their price objective on Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $171.76.

Hedge Funds Weigh In On Carvana

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVNA. Price T Rowe Associates Inc. MD increased its position in shares of Carvana by 39.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after acquiring an additional 2,112,463 shares during the period. Vanguard Group Inc. raised its position in Carvana by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after purchasing an additional 655,603 shares in the last quarter. Sylebra Capital LLC purchased a new position in shares of Carvana in the 2nd quarter valued at about $67,686,000. Senator Investment Group LP purchased a new position in shares of Carvana in the 2nd quarter valued at about $63,767,000. Finally, Driehaus Capital Management LLC grew its position in shares of Carvana by 124.9% during the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after buying an additional 323,153 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

About Carvana

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.