Carvana Co. (NYSE:CVNA – Get Free Report) major shareholder Ernest C. Garcia II sold 60,000 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $108.86, for a total value of $6,531,600.00. Following the sale, the insider now owns 1,057,500 shares of the company’s stock, valued at $115,119,450. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Carvana Trading Up 2.9 %
Shares of CVNA stock opened at $112.99 on Monday. The stock has a 50-day moving average of $102.06 and a 200-day moving average of $75.64. Carvana Co. has a 1-year low of $20.60 and a 1-year high of $129.00. The stock has a market cap of $22.89 billion, a price-to-earnings ratio of 49.56 and a beta of 3.29.
Carvana (NYSE:CVNA – Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.35. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $2.72 billion. Sell-side analysts forecast that Carvana Co. will post -0.75 earnings per share for the current year.
Wall Street Analyst Weigh In
View Our Latest Report on CVNA
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Advisors LLC purchased a new stake in shares of Carvana during the first quarter valued at approximately $461,000. Cetera Investment Advisers increased its position in Carvana by 171.7% in the first quarter. Cetera Investment Advisers now owns 20,862 shares of the company’s stock worth $1,834,000 after buying an additional 13,185 shares during the last quarter. Plato Investment Management Ltd purchased a new stake in Carvana in the first quarter worth $55,000. Tidal Investments LLC purchased a new stake in Carvana in the first quarter worth $1,783,000. Finally, Motley Fool Asset Management LLC purchased a new stake in Carvana in the first quarter worth $636,000. 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.
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