Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III Sells 18,100 Shares of Stock

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 18,100 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $116.24, for a total transaction of $2,103,944.00. Following the completion of the sale, the chief executive officer now owns 896,449 shares in the company, valued at $104,203,231.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Carvana Stock Performance

Shares of NYSE CVNA opened at $121.72 on Friday. The stock has a market cap of $24.58 billion, a price-to-earnings ratio of 53.39 and a beta of 3.28. The business has a 50 day simple moving average of $81.81 and a 200 day simple moving average of $55.88. Carvana Co. has a 52 week low of $6.92 and a 52 week high of $124.20.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Jefferies Financial Group raised Carvana from an “underperform” rating to a “hold” rating and upped their price target for the company from $30.00 to $85.00 in a report on Tuesday, March 12th. Morgan Stanley raised their price objective on Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a research note on Monday, February 26th. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research report on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Carvana in a research report on Thursday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $73.44.

Hedge Funds Weigh In On Carvana

Several hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC lifted its stake in shares of Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after buying an additional 194 shares during the last quarter. Diversified Trust Co grew its position in shares of Carvana by 6.0% in the fourth quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock valued at $300,000 after purchasing an additional 319 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Carvana by 1.5% in the third quarter. Arizona State Retirement System now owns 25,698 shares of the company’s stock worth $1,079,000 after purchasing an additional 377 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Carvana by 11.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,687 shares of the company’s stock worth $412,000 after purchasing an additional 500 shares during the last quarter. Finally, Blue Trust Inc. bought a new stake in Carvana during the 4th quarter valued at approximately $29,000. 56.71% of the stock is owned by institutional investors and hedge funds.

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.