Carvana Co. (NYSE:CVNA – Get Free Report) major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $190.70, for a total transaction of $19,070,000.00. Following the sale, the insider now directly owns 38,458,131 shares of the company’s stock, valued at $7,333,965,581.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Ernest C. Garcia II also recently made the following trade(s):
- On Monday, October 7th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $180.49, for a total transaction of $18,049,000.00.
- On Friday, October 4th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $179.06, for a total transaction of $17,906,000.00.
- On Wednesday, October 2nd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $174.64, for a total transaction of $17,464,000.00.
- On Monday, September 30th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $171.68, for a total transaction 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.
- On Wednesday, September 25th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $170.51, for a total transaction of $17,051,000.00.
- On Monday, September 23rd, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $172.66, for a total transaction of $17,266,000.00.
- On Thursday, September 19th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The stock was sold at an average price of $168.46, for a total transaction of $16,846,000.00.
- On Tuesday, September 17th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00.
- On Monday, September 9th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The shares were sold at an average price of $135.73, for a total transaction of $10,179,750.00.
Carvana Stock Performance
Shares of CVNA opened at $192.25 on Monday. The stock has a 50-day simple moving average of $157.06 and a 200-day simple moving average of $125.77. The stock has a market capitalization of $38.94 billion, a PE ratio of 84.32 and a beta of 3.44. Carvana Co. has a 1 year low of $25.09 and a 1 year high of $194.75. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on CVNA shares. Robert W. Baird started coverage on shares of Carvana in a research report on Thursday, August 1st. They issued a “neutral” rating and a $160.00 price target for the company. Wells Fargo & Company upgraded shares of Carvana from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $77.00 to $175.00 in a research report on Thursday, August 1st. Evercore ISI restated an “in-line” rating and issued a $178.00 price target on shares of Carvana in a report on Thursday, September 26th. Stephens started coverage on shares of Carvana in a report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price target for the company. Finally, Bank of America raised their price objective on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $171.76.
Check Out Our Latest Research Report on CVNA
Institutional Trading of Carvana
A number of institutional investors have recently modified their holdings of CVNA. Price T Rowe Associates Inc. MD grew its holdings in Carvana by 39.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after purchasing an additional 2,112,463 shares during the last quarter. Vanguard Group Inc. boosted its stake in Carvana by 7.0% in 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 during the last quarter. Sylebra Capital LLC acquired a new stake in Carvana in the 2nd quarter worth about $67,686,000. Senator Investment Group LP acquired a new stake in Carvana in the 2nd quarter worth about $63,767,000. Finally, Driehaus Capital Management LLC raised its holdings in shares of Carvana by 124.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after purchasing an additional 323,153 shares during the period. 56.71% of the stock is currently owned by hedge funds and other institutional investors.
About Carvana
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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