Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 50,000 shares of Carvana stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $80.09, for a total value of $4,004,500.00. Following the sale, the insider now directly owns 3,262,500 shares in the company, valued at $261,293,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Carvana Price Performance
CVNA stock opened at $82.95 on Wednesday. The company has a 50 day moving average price of $78.09 and a 200 day moving average price of $54.27. Carvana Co. has a fifty-two week low of $6.70 and a fifty-two week high of $94.04. The stock has a market capitalization of $16.75 billion, a PE ratio of 153.61 and a beta of 3.32.
Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.56 billion. During the same period in the previous year, the business earned ($0.97) EPS. Carvana's revenue was down 14.6% compared to the same quarter last year. As a group, equities analysts expect that Carvana Co. will post -3.32 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
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A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Carvana from $65.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, April 18th. Royal Bank of Canada raised Carvana from an "underperform" rating to a "sector perform" rating and lifted their price objective for the company from $45.00 to $90.00 in a report on Friday, March 8th. Raymond James raised Carvana from an "underperform" rating to a "market perform" rating in a report on Friday, February 23rd. William Blair raised Carvana from a "market perform" rating to an "outperform" rating in a report on Friday, February 23rd. Finally, Morgan Stanley lifted their price objective on Carvana from $32.00 to $45.00 and gave the company an "underweight" rating in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Carvana has an average rating of "Hold" and an average price target of $56.75.
Get Our Latest Stock Report on Carvana
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. bought a new position in Carvana in the 4th quarter worth approximately $29,000. Parallel Advisors LLC raised its position in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company's stock valued at $37,000 after acquiring an additional 194 shares during the last quarter. Hanseatic Management Services Inc. bought a new stake in shares of Carvana during the 3rd quarter valued at $34,000. Tidemark LLC bought a new stake in shares of Carvana during the 4th quarter valued at $50,000. Finally, Harvest Fund Management Co. Ltd raised its position in shares of Carvana by 1,225.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company's stock valued at $50,000 after acquiring an additional 1,103 shares during the last quarter. Institutional investors own 56.71% of the company's stock.
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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