Ernest C. Garcia II Sells 50,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 50,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $85.38, for a total transaction of $4,269,000.00. Following the completion of the sale, the insider now directly owns 3,212,500 shares in the company, valued at $274,283,250. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Carvana Stock Up 5.1 %

Shares of NYSE:CVNA opened at $87.17 on Thursday. The company’s 50 day moving average price is $78.71 and its two-hundred day moving average price is $54.62. Carvana Co. has a 12-month low of $6.70 and a 12-month high of $94.04. The firm has a market cap of $17.60 billion, a PE ratio of 161.43 and a beta of 3.32.

Carvana (NYSE:CVNA) last announced its earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the firm posted ($0.97) EPS. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. On average, research analysts expect that Carvana Co. will post -3.32 EPS for the current year.

Institutional Trading of Carvana

Institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. bought a new stake in shares of Carvana during the 4th quarter worth approximately $29,000. Hanseatic Management Services Inc. bought a new stake in shares of Carvana during the 3rd quarter worth approximately $34,000. Parallel Advisors LLC lifted its holdings 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 acquiring an additional 194 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in shares of Carvana by 1,225.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock worth $50,000 after acquiring an additional 1,103 shares during the period. Finally, Tidemark LLC bought a new stake in shares of Carvana during the 4th quarter worth approximately $50,000. Institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

CVNA has been the topic of a number of research analyst reports. William Blair raised shares of Carvana from a “market perform” rating to an “outperform” rating in a report on Friday, February 23rd. TD Cowen upped their price target on shares of Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research note on Monday. Evercore ISI decreased their price target on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Robert W. Baird upped their price target on shares of Carvana from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, April 19th. Finally, JPMorgan Chase & Co. upped their price target on shares of Carvana from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $56.75.

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.