Carvana Co. (NYSE:CVNA) Major Shareholder Sells $7,092,000.00 in Stock

Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 60,000 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $118.20, for a total value of $7,092,000.00. Following the completion of the transaction, the insider now owns 2,317,500 shares in the company, valued at approximately $273,928,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $109.26 on Friday. Carvana Co. has a 52 week low of $10.68 and a 52 week high of $129.00. The company’s fifty day moving average is $93.34 and its 200-day moving average is $64.88. The company has a market capitalization of $22.13 billion, a PE ratio of 47.92 and a beta of 3.28.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.35. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $2.72 billion. On average, analysts forecast that Carvana Co. will post -0.96 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CVNA shares. William Blair reissued an “outperform” rating on shares of Carvana in a research report on Thursday, May 2nd. JPMorgan Chase & Co. raised shares of Carvana from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $130.00 in a research report on Thursday, May 2nd. TD Cowen lifted their price target on shares of Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Evercore ISI dropped their price target on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. Finally, Wells Fargo & Company lifted their price target on shares of Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. One investment 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. According to MarketBeat.com, Carvana currently has a consensus rating of “Hold” and a consensus price target of $77.60.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its position in Carvana by 6.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 831,879 shares of the company’s stock worth $44,040,000 after buying an additional 53,318 shares in the last quarter. Blue Trust Inc. acquired a new position in Carvana during the 4th quarter worth about $29,000. Vanguard Group Inc. lifted its position in Carvana by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock worth $393,268,000 after buying an additional 62,820 shares in the last quarter. Quantbot Technologies LP acquired a new position in Carvana during the 3rd quarter worth about $2,879,000. Finally, Quest Partners LLC acquired a new position in Carvana during the 4th quarter worth about $529,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.