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

Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 100,000 shares of the business's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $174.64, for a total value of $17,464,000.00. Following the sale, the insider now owns 39,058,131 shares in the company, valued at $6,821,111,997.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, September 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $171.68, for a total value of $17,168,000.00.
• On Friday, September 27th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $169.88, for a total value of $16,988,000.00.
• On Wednesday, September 25th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $170.51, for a total value of $17,051,000.00.
• On Monday, September 23rd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $172.66, for a total value of $17,266,000.00.
• On Thursday, September 19th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $168.46, for a total value of $16,846,000.00.
• On Tuesday, September 17th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00.
• On Monday, September 9th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The stock was sold at an average price of $135.73, for a total value 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 value of $10,629,000.00.
• On Friday, August 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was 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.

Carvana Stock Performance

NYSE CVNA traded down $0.26 on Thursday, hitting $176.69. 1,759,831 shares of the company traded hands, compared to its average volume of 5,002,075. The company has a market capitalization of $35.79 billion, a price-to-earnings ratio of 77.06 and a beta of 3.43. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. The business's 50 day moving average price is $149.60 and its 200-day moving average price is $120.60. Carvana Co. has a 52-week low of $25.09 and a 52-week high of $179.93.

• Analysts Weigh In: How Will Lower Rates Impact Carvana Stock?

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. Equities analysts expect that Carvana Co. will post 0.27 earnings per share for the current year.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently bought and sold shares of CVNA. Hsbc Holdings PLC raised its holdings in Carvana by 107.4% during the fourth quarter. Hsbc Holdings PLC now owns 30,580 shares of the company's stock valued at $1,612,000 after acquiring an additional 15,832 shares during the period. Parallel Advisors LLC raised its holdings in Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company's stock valued at $37,000 after acquiring an additional 194 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in Carvana during the fourth quarter valued at about $409,000. Rafferty Asset Management LLC increased its holdings in shares of Carvana by 38.6% in the fourth quarter. Rafferty Asset Management LLC now owns 43,792 shares of the company's stock worth $2,318,000 after purchasing an additional 12,193 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new stake in shares of Carvana in the fourth quarter worth about $307,000. 56.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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Several equities research analysts have weighed in on the company. Robert W. Baird assumed coverage on Carvana in a report on Thursday, August 1st. They issued a "neutral" rating and a $160.00 price objective for the company. BTIG Research increased their target price on Carvana from $155.00 to $188.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Needham & Company LLC raised their price objective on Carvana from $160.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Wedbush raised Carvana to a "neutral" rating and raised their price objective for the company from $120.00 to $150.00 in a research report on Monday, August 19th. Finally, Citigroup raised their price objective on Carvana from $125.00 to $195.00 and gave the company a "neutral" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $157.33.

Check Out Our Latest Report on Carvana

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.

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