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 Monday, April 29th. The stock was sold at an average price of $85.38, for a total value of $4,269,000.00. Following the completion of the transaction, the insider now owns 3,212,500 shares of the company’s stock, valued at approximately $274,283,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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

Carvana stock opened at $82.95 on Wednesday. Carvana Co. has a one year low of $6.70 and a one year high of $94.04. The stock has a market capitalization of $16.75 billion, a PE ratio of 153.61 and a beta of 3.32. The business’s fifty day moving average is $78.09 and its 200 day moving average is $54.27.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the business earned ($0.97) earnings per share. Carvana’s revenue was down 14.6% compared to the same quarter last year. As a group, sell-side analysts expect that Carvana Co. will post -3.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC lifted its holdings in Carvana by 39.0% in 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. Diversified Trust Co lifted its holdings in Carvana by 6.0% in the fourth quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock valued at $300,000 after acquiring an additional 319 shares during the period. Arizona State Retirement System lifted its holdings in Carvana by 1.5% in the third quarter. Arizona State Retirement System now owns 25,698 shares of the company’s stock valued at $1,079,000 after acquiring an additional 377 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Carvana by 11.9% in the first quarter. Sequoia Financial Advisors LLC now owns 4,687 shares of the company’s stock valued at $412,000 after acquiring an additional 500 shares during the period. Finally, Blue Trust Inc. bought a new position in Carvana in the fourth quarter valued at about $29,000. Institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CVNA. JPMorgan Chase & Co. increased their price objective on Carvana from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, April 18th. Robert W. Baird increased their price objective on Carvana from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. Raymond James upgraded Carvana from an “underperform” rating to a “market perform” rating in a report on Friday, February 23rd. Evercore ISI decreased their price objective on Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. Finally, William Blair upgraded Carvana from a “market perform” rating to an “outperform” rating in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.75.

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.