Ernest C. Garcia II Sells 60,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNAGet Free Report) major shareholder Ernest C. Garcia II sold 60,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $99.83, for a total value of $5,989,800.00. Following the sale, the insider now owns 1,717,500 shares of the company’s stock, valued at approximately $171,458,025. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Carvana Trading Up 1.9 %

Carvana stock opened at $106.66 on Friday. The firm has a market capitalization of $21.61 billion, a P/E ratio of 46.78 and a beta of 3.29. The business has a 50-day moving average of $96.37 and a 200-day moving average of $69.33. Carvana Co. has a 1 year low of $17.63 and a 1 year high of $129.00.

Carvana (NYSE:CVNAGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.35. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.72 billion. Research analysts anticipate that Carvana Co. will post -0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Carvana

A number of hedge funds and other institutional investors have recently bought and sold shares of CVNA. Cetera Advisors LLC acquired a new position in Carvana during the first quarter worth $461,000. Cetera Investment Advisers lifted its position in Carvana by 171.7% during the 1st quarter. Cetera Investment Advisers now owns 20,862 shares of the company’s stock worth $1,834,000 after buying an additional 13,185 shares in the last quarter. Plato Investment Management Ltd acquired a new position in shares of Carvana during the 1st quarter worth about $55,000. Tidal Investments LLC bought a new position in Carvana in the first quarter valued at approximately $1,783,000. Finally, Motley Fool Asset Management LLC bought a new position in shares of Carvana in the first quarter valued at $636,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. TD Cowen boosted their target price on shares of Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Jefferies Financial Group raised Carvana from an “underperform” rating to a “hold” rating and increased their target price for the stock from $30.00 to $85.00 in a report on Tuesday, March 12th. Evercore ISI decreased their price target on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. Robert W. Baird raised their target price on Carvana from $65.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. raised Carvana from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $70.00 to $130.00 in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Carvana currently has a consensus rating of “Hold” and a consensus price target of $78.60.

Check Out Our Latest Research Report on Carvana

About Carvana

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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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Insider Buying and Selling by Quarter for Carvana (NYSE:CVNA)

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