Carvana Co. (NYSE:CVNA) Major Shareholder Ernest C. Garcia II Sells 100,000 Shares of Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the sale, the insider now owns 40,058,131 shares in the company, valued at $6,209,010,305. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large 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 Monday, September 9th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The shares were sold at an average price of $135.73, for a total transaction of $10,179,750.00.
• On Thursday, September 5th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The stock was sold at an average price of $141.72, for a total transaction of $10,629,000.00.
• On Friday, August 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $149.16, for a total value of $14,916,000.00.
• On Wednesday, August 28th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $155.69, for a total value of $15,569,000.00.
• On Monday, August 26th, Ernest C. Garcia II sold 9,186 shares of Carvana stock. The stock was sold at an average price of $156.95, for a total value of $1,441,742.70.
• On Friday, July 12th, Ernest C. Garcia II sold 37,500 shares of Carvana stock. The stock was sold at an average price of $136.63, for a total transaction of $5,123,625.00.

Carvana Stock Up 5.6 %

Shares of NYSE:CVNA opened at $170.72 on Friday. Carvana Co. has a 52-week low of $25.09 and a 52-week high of $171.67. The company has a market capitalization of $34.58 billion, a PE ratio of 74.88 and a beta of 3.43. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The company has a fifty day moving average of $141.54 and a 200-day moving average of $114.04.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.23 billion. On average, equities analysts predict that Carvana Co. will post 0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Carvana

Hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Carvana by 39.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after purchasing an additional 2,112,463 shares during the period. Vanguard Group Inc. grew its position in shares of Carvana by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after buying an additional 655,603 shares during the last quarter. Sylebra Capital LLC acquired a new stake in shares of Carvana in the second quarter valued at about $67,686,000. Senator Investment Group LP acquired a new stake in shares of Carvana in the second quarter valued at about $63,767,000. Finally, Driehaus Capital Management LLC raised its position in shares of Carvana by 124.9% during the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after acquiring an additional 323,153 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CVNA shares. BTIG Research lifted their price objective on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. increased their price target on shares of Carvana from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Robert W. Baird began coverage on shares of Carvana in a research report on Thursday, August 1st. They set a “neutral” rating and a $160.00 price objective for the company. Needham & Company LLC upped their target price on Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, JMP Securities reissued a “market outperform” rating and set a $200.00 price target on shares of Carvana in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $153.88.

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.