Carvana Co. (NYSE:CVNA - Get Free Report) major shareholder Ernest C. Garcia II sold 60,000 shares of Carvana stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $99.83, for a total transaction of $5,989,800.00. Following the completion of the transaction, the insider now directly owns 1,717,500 shares in the company, valued at $171,458,025. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Carvana Stock Up 1.3 %
NYSE:CVNA opened at $104.40 on Friday. Carvana Co. has a fifty-two week low of $15.05 and a fifty-two week high of $129.00. The stock has a market cap of $21.15 billion, a PE ratio of 45.79 and a beta of 3.29. The firm's fifty day simple moving average is $96.37 and its 200-day simple moving average is $69.33.
Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, topping analysts' consensus estimates of ($0.76) by $0.35. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.72 billion. Equities analysts anticipate that Carvana Co. will post -0.8 earnings per share for the current year.
Institutional Investors Weigh In On Carvana
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Several institutional investors and hedge funds have recently made changes to their positions in CVNA. Principal Financial Group Inc. boosted its position in shares of Carvana by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 12,336 shares of the company's stock worth $518,000 after buying an additional 1,642 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Carvana by 1.4% in the 3rd quarter. New York State Common Retirement Fund now owns 40,263 shares of the company's stock worth $1,690,000 after buying an additional 563 shares in the last quarter. Keybank National Association OH purchased a new stake in shares of Carvana in the 3rd quarter worth about $264,000. Swiss National Bank boosted its position in shares of Carvana by 1.1% in the 3rd quarter. Swiss National Bank now owns 198,400 shares of the company's stock worth $8,329,000 after buying an additional 2,100 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Carvana in the 3rd quarter worth about $321,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on CVNA. Morgan Stanley lifted their target price on shares of Carvana from $32.00 to $45.00 and gave the company an "underweight" rating in a report on Monday, February 26th. Raymond James raised shares of Carvana from an "underperform" rating to a "market perform" rating in a report on Friday, February 23rd. Needham & Company LLC reissued a "hold" rating on shares of Carvana in a research note on Thursday, May 2nd. Robert W. Baird boosted their price objective on shares of Carvana from $65.00 to $110.00 and gave the company a "neutral" rating in a research note on Thursday, May 2nd. Finally, JMP Securities reissued a "market outperform" rating and issued a $135.00 price objective on shares of Carvana in a research note on Tuesday, May 14th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $77.60.
Check Out Our Latest Report on CVNA
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.
Further Reading
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