Carvana Co. (NYSE:CVNA) Major Shareholder Ernest C. Garcia II Sells 50,000 Shares

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 50,000 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $80.13, for a total transaction of $4,006,500.00. Following the sale, the insider now directly owns 3,312,500 shares in the company, valued at $265,430,625. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Carvana Price Performance

CVNA traded down $5.22 on Monday, reaching $69.77. 5,890,094 shares of the company’s stock were exchanged, compared to its average volume of 6,276,103. The stock has a market cap of $14.09 billion, a PE ratio of 129.20 and a beta of 3.32. Carvana Co. has a twelve month low of $6.70 and a twelve month high of $94.04. The stock’s fifty day moving average price is $73.60 and its 200-day moving average price is $51.66.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.56 billion. The company’s revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.97) EPS. As a group, research analysts predict that Carvana Co. will post -3.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carvana

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC boosted its position in Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after acquiring an additional 194 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Carvana by 1.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,160 shares of the company’s stock worth $697,000 after purchasing an additional 249 shares during the period. Geneos Wealth Management Inc. raised its stake in Carvana by 17.0% during the first quarter. Geneos Wealth Management Inc. now owns 1,929 shares of the company’s stock worth $230,000 after purchasing an additional 280 shares during the period. Diversified Trust Co raised its stake in Carvana by 6.0% during the fourth quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock worth $300,000 after purchasing an additional 319 shares during the period. Finally, Corient Private Wealth LLC raised its stake in Carvana by 5.6% during the fourth quarter. Corient Private Wealth LLC now owns 6,713 shares of the company’s stock worth $355,000 after purchasing an additional 358 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVNA has been the topic of several recent analyst reports. JMP Securities increased their target price on shares of Carvana from $60.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Friday, February 23rd. William Blair raised Carvana from a “market perform” rating to an “outperform” rating in a report on Friday, February 23rd. Morgan Stanley boosted their price objective on Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, February 26th. Wedbush increased their target price on Carvana from $40.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, February 20th. Finally, Jefferies Financial Group raised shares of Carvana from an “underperform” rating to a “hold” rating and boosted their price target for the stock from $30.00 to $85.00 in a report on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Carvana has a consensus rating of “Hold” and a consensus price target of $50.60.

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.