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

by · The Markets Daily

Carvana Co. (NYSE:CVNA – Get Free Report) major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $190.79, for a total value of $19,079,000.00. Following the sale, the insider now directly owns 37,658,131 shares in the company, valued at $7,184,794,813.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

  • On Friday, October 18th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $191.37, for a total value of $19,137,000.00.
  • On Wednesday, October 16th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $193.06, for a total value of $19,306,000.00.
  • On Monday, October 14th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $190.47, for a total value of $19,047,000.00.
  • On Friday, October 11th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $192.55, for a total value of $19,255,000.00.
  • On Wednesday, October 9th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $190.70, for a total value of $19,070,000.00.
  • On Monday, October 7th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $180.49, for a total value of $18,049,000.00.
  • On Friday, October 4th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $179.06, for a total value of $17,906,000.00.
  • On Wednesday, October 2nd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $174.64, for a total value of $17,464,000.00.
  • 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 transaction of $16,988,000.00.

Carvana Stock Performance

NYSE CVNA traded up $0.02 during trading hours on Wednesday, hitting $197.37. 2,527,530 shares of the stock were exchanged, compared to its average volume of 4,825,063. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. The stock has a 50-day moving average of $164.96 and a 200 day moving average of $131.07. Carvana Co. has a 12-month low of $25.09 and a 12-month high of $200.50. The company has a market cap of $39.98 billion, a price-to-earnings ratio of 86.75 and a beta of 3.44.

Carvana (NYSE:CVNA – Get Free Report) last released 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 during the quarter, compared to analyst estimates of $3.23 billion. As a group, equities research analysts forecast that Carvana Co. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Carvana

A number of large investors have recently bought and sold shares of CVNA. Wellington Management Group LLP acquired a new stake in Carvana during the 4th quarter valued at $4,703,000. Vanguard Group Inc. raised its position in shares of Carvana by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after buying an additional 655,603 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Carvana by 63.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,481 shares of the company’s stock worth $131,000 after buying an additional 965 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Carvana by 53.3% in the 1st quarter. Diversified Trust Co now owns 8,678 shares of the company’s stock worth $763,000 after purchasing an additional 3,019 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Carvana by 9.2% in the 1st quarter. Principal Financial Group Inc. now owns 12,702 shares of the company’s stock worth $1,117,000 after purchasing an additional 1,068 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on CVNA shares. Piper Sandler lifted their price target on shares of Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Wedbush boosted their price target on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. DA Davidson boosted their price target on shares of Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Jefferies Financial Group boosted their target price on shares of Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Citigroup boosted their target price on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $182.29.

Get Our Latest Analysis on Carvana

Carvana Company Profile

(Get Free Report)

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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