Carvana Co. (NYSE:CVNA) Major Shareholder Ernest C. Garcia II Sells 75,000 Shares

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $125.21, for a total transaction of $9,390,750.00. Following the transaction, the insider now directly owns 1,940,814 shares in the company, valued at approximately $243,009,320.94. The sale 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 shares are required to disclose their transactions with the SEC.

Ernest C. Garcia II also recently made the following trade(s):

• On Friday, July 12th, Ernest C. Garcia II sold 37,500 shares of Carvana stock. The shares were sold at an average price of $136.63, for a total transaction of $5,123,625.00.

Carvana Stock Up 7.1 %

Shares of Carvana stock opened at $132.85 on Monday. The firm has a market capitalization of $26.91 billion, a P/E ratio of 58.27 and a beta of 3.37. Carvana Co. has a 52 week low of $25.09 and a 52 week high of $147.25. The firm’s 50 day moving average is $118.47 and its two-hundred day moving average is $89.66.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.72 billion. As a group, research analysts expect that Carvana Co. will post -0.71 earnings per share for the current fiscal year.

Institutional Trading of Carvana

Several institutional investors and hedge funds have recently made changes to their positions in CVNA. SG Americas Securities LLC purchased a new stake in Carvana in the fourth quarter valued at approximately $117,000. Raymond James Financial Services Advisors Inc. boosted its stake in Carvana by 2.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 55,669 shares of the company’s stock worth $2,947,000 after purchasing an additional 1,125 shares during the period. Blue Trust Inc. acquired a new stake in Carvana during the 4th quarter worth $29,000. True North Advisors LLC purchased a new position in Carvana during the 4th quarter worth $238,000. Finally, International Assets Investment Management LLC acquired a new position in Carvana in the fourth quarter valued at $5,610,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVNA has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Needham & Company LLC raised shares of Carvana from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price target on shares of Carvana from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. TD Cowen increased their price objective on Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Finally, Evercore ISI boosted their target price on Carvana from $135.00 to $140.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $105.14.

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.