Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III Sells 8,138 Shares

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 8,138 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $342.12, for a total value of $2,784,172.56. Following the completion of the sale, the chief executive officer now directly owns 770,931 shares of the company’s stock, valued at approximately $263,750,913.72. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Carvana Price Performance

Carvana stock opened at $340.40 on Tuesday. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The firm has a market cap of $72.89 billion, a P/E ratio of 216.82 and a beta of 3.65. The business’s fifty day moving average is $260.79 and its two-hundred day moving average is $238.98. Carvana Co. has a 52 week low of $100.05 and a 52 week high of $351.43.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The business’s revenue was up 38.3% on a year-over-year basis. Equities research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Yousif Capital Management LLC increased its holdings in Carvana by 4.1% in the first quarter. Yousif Capital Management LLC now owns 1,266 shares of the company’s stock valued at $265,000 after purchasing an additional 50 shares during the last quarter. Fidelis Capital Partners LLC lifted 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 in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Carvana by 5.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company’s stock worth $256,000 after purchasing an additional 60 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Carvana by 2.8% in the 4th quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock valued at $483,000 after acquiring an additional 65 shares in the last quarter. Finally, Commerce Bank increased its position in shares of Carvana by 1.6% during the 1st quarter. Commerce Bank now owns 4,446 shares of the company’s stock worth $930,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Bank of America increased their price objective on Carvana from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. DA Davidson raised their price objective on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Wells Fargo & Company lifted their price target on Carvana from $290.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Finally, Evercore ISI decreased their price objective on Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a report on Tuesday, March 11th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Carvana has an average rating of “Moderate Buy” and an average target price of $275.65.

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.