Carvana Co. (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 17,772 shares of the stock in a transaction dated Wednesday, April 14th. The shares were sold at an average price of $279.10, for a total transaction of $4,960,165.20. Following the completion of the transaction, the insider now directly owns 11,708 shares of the company’s stock, valued at $3,267,702.80. The sale was disclosed in a document filed 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 sales and purchases with the SEC.
NYSE CVNA traded down $6.60 during mid-day trading on Friday, reaching $275.09. 801,161 shares of the stock were exchanged, compared to its average volume of 1,433,115. Carvana Co. has a 1-year low of $68.97 and a 1-year high of $323.39. The business’s fifty day simple moving average is $271.28 and its 200 day simple moving average is $253.62. The stock has a market capitalization of $47.39 billion, a PE ratio of -100.77 and a beta of 2.52. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.42 and a current ratio of 3.18.
Carvana (NYSE:CVNA) last announced its earnings results on Thursday, February 25th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.07. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.59 billion. Carvana had a negative net margin of 3.06% and a negative return on equity of 43.19%. On average, analysts anticipate that Carvana Co. will post -2.29 EPS for the current year.
CVNA has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Carvana from a “hold” rating to a “sell” rating and set a $331.00 target price for the company. in a report on Wednesday, March 3rd. JMP Securities increased their target price on shares of Carvana from $250.00 to $290.00 and gave the company a “market outperform” rating in a report on Thursday, March 4th. DA Davidson raised their price objective on shares of Carvana from $214.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, February 26th. Robert W. Baird raised their price objective on shares of Carvana from $285.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 16th. Finally, Raymond James initiated coverage on shares of Carvana in a research note on Tuesday. They set a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $266.27.
Several institutional investors and hedge funds have recently made changes to their positions in CVNA. Guggenheim Capital LLC acquired a new position in shares of Carvana in the 3rd quarter valued at $261,000. Cubist Systematic Strategies LLC boosted its holdings in shares of Carvana by 197.1% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 10,660 shares of the company’s stock valued at $2,378,000 after purchasing an additional 7,072 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Carvana in the 3rd quarter valued at $1,445,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Carvana by 6.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 21,823 shares of the company’s stock valued at $4,868,000 after purchasing an additional 1,388 shares during the last quarter. Finally, Chiron Capital Management LLC acquired a new position in shares of Carvana in the 3rd quarter valued at $56,000. Institutional investors own 48.41% of the company’s stock.
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.
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