Carvana Co (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 172,357 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $62.96, for a total value of $10,851,596.72. Following the transaction, the insider now directly owns 52,937,458 shares in the company, valued at $3,332,942,355.68. The sale was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of CVNA stock opened at $61.28 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 0.56 and a debt-to-equity ratio of 2.73. The stock has a market capitalization of $9.50 billion, a PE ratio of -35.42 and a beta of 2.68. Carvana Co has a fifty-two week low of $28.44 and a fifty-two week high of $76.85.
Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.03). The firm had revenue of $755.23 million during the quarter, compared to analyst estimates of $696.61 million. Carvana had a negative net margin of 3.54% and a negative return on equity of 30.85%. Research analysts anticipate that Carvana Co will post -1.82 EPS for the current year.
CVNA has been the topic of several recent analyst reports. B. Riley reaffirmed a “buy” rating and set a $91.00 target price (up from $72.00) on shares of Carvana in a research report on Monday, April 29th. Citigroup upped their target price on Carvana from $80.00 to $90.00 and gave the company a “positive” rating in a research report on Thursday, May 9th. Seaport Global Securities started coverage on Carvana in a research report on Wednesday, February 13th. They set a “neutral” rating on the stock. They noted that the move was a valuation call. Wells Fargo & Co reissued a “buy” rating and issued a $57.00 price objective on shares of Carvana in a report on Thursday, February 28th. Finally, Cowen started coverage on Carvana in a report on Monday, May 20th. They issued an “outperform” rating and a $81.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $67.42.
Several hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp acquired a new stake in Carvana during the first quarter worth about $29,000. Valeo Financial Advisors LLC grew its holdings in Carvana by 100.0% during the first quarter. Valeo Financial Advisors LLC now owns 1,000 shares of the company’s stock worth $58,000 after acquiring an additional 500 shares during the period. Cambria Investment Management L.P. acquired a new stake in Carvana during the first quarter worth about $167,000. First Mercantile Trust Co. grew its holdings in Carvana by 34.1% during the fourth quarter. First Mercantile Trust Co. now owns 3,061 shares of the company’s stock worth $100,000 after acquiring an additional 779 shares during the period. Finally, MML Investors Services LLC acquired a new stake in Carvana during the first quarter worth about $206,000. 37.08% of the stock is currently owned by institutional investors and hedge funds.
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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 proprietary 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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