Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III Sells 18,100 Shares

Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III sold 18,100 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $116.24, for a total value of $2,103,944.00. Following the transaction, the chief executive officer now directly owns 896,449 shares of the company’s stock, valued at approximately $104,203,231.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Carvana Stock Up 4.5 %

Shares of Carvana stock traded up $5.22 during trading hours on Friday, reaching $121.72. 8,523,599 shares of the stock traded hands, compared to its average volume of 6,314,580. The company has a 50 day moving average price of $80.75 and a 200 day moving average price of $55.27. The firm has a market capitalization of $24.58 billion, a price-to-earnings ratio of 53.39 and a beta of 3.28. Carvana Co. has a one year low of $6.92 and a one year high of $124.20.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.97) EPS. Sell-side analysts anticipate that Carvana Co. will post -3.32 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Morgan Stanley lifted its holdings in Carvana by 13.8% in the 3rd quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock worth $619,478,000 after purchasing an additional 1,784,009 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Carvana by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after purchasing an additional 655,603 shares in the last quarter. TD Asset Management Inc purchased a new position in Carvana in the 3rd quarter worth approximately $22,906,000. UBS Group AG lifted its holdings in Carvana by 132.6% in the 3rd quarter. UBS Group AG now owns 81,620 shares of the company’s stock worth $3,426,000 after purchasing an additional 331,892 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Carvana by 56.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock worth $32,684,000 after purchasing an additional 280,851 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. JMP Securities raised their price objective on Carvana from $80.00 to $135.00 and gave the company a “market outperform” rating in a research report on Friday. Wells Fargo & Company lifted their price target on Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday. Raymond James raised Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Carvana in a research report on Thursday. Finally, Wedbush lifted their price target on Carvana from $80.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $73.44.

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.