Caravan Co. (NYSE:CVNA) Major Shareholder Sells $17,906,000.00 in Stock

VaselineOctober 10, 2024

0 4 minutes read

Majority shareholder Carvana Co. (NYSE:CVNA – Get Free Report) insider Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $179.06, for a total transaction of $17,906,000.00. Following the sale, the insider now owns 38,858,131 shares of the company’s stock, valued at $6,957,936,936.86. This represents a 0.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this hyperlink. Large shareholders who own more than 10% of a company’s stock are required to disclose their sales and purchases to the SEC.

Ernest C. Garcia II also recently traded:

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 value of $18,049,000.00.
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 value 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 shares were 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 shares were 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 stock was sold at an average price of $172.66, for a total value of $17,266,000.00.
On Thursday, September 19th, Ernest C. Garcia II sold 100,000 shares of Carvana stock. The shares were sold at an average price of $168.46, for a total value 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 value 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.
On Thursday, September 5th, Ernest C. Garcia II sold 75,000 shares of Carvana stock. The shares were sold at an average price of $141.72, for a total transaction of $10,629,000.00.

Carvana trading down 0.5%

Shares of Carvana stock opened at $190.07 on Thursday. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02, and a current ratio of 3.11. The company has a market cap of $38.50 billion, a P/E ratio of 83.36 and a beta of 3.44. Caravan Co. has a 1 year low of $25.09 and a 1 year high of $193.49. The company’s fifty day moving average is $155.06 and its two hundred day moving average is $124.09.

Want more great investment ideas?

Carvana (NYSE:CVNA – Get Free Report ) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. Analysts estimate that Carvana Co. will record 0.27 earnings per share for the current year.

The Wall Street analyst weighs in

CVNA has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. BTIG Research upped their target price on Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JMP Securities reiterated a “market outperform” rating and issued a $200.00 price objective on shares of Carvana in a research note on Monday, September 9th. Evercore ISI restated an “in-line” rating and set a $178.00 target price on shares of Carvana in a research note on Thursday, September 26th. Finally, Stephens started coverage on shares of Carvana in a report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $164.28, according to MarketBeat.com.

Get the latest research report on Carvana

Hedge funds are weighing on Carvana

Large investors have recently bought and sold shares of the company. Hsbc Holdings PLC boosted its holdings in Carvana by 107.4% during the fourth quarter. Hsbc Holdings PLC now owns 30,580 shares of the company’s stock worth $1,612,000 after buying an additional 15,832 shares during the last quarter. Parallel Advisors LLC raised its stake in Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after buying an additional 194 shares in the last quarter . Campbell & CO Investment Adviser LLC purchased a new stake in shares of Carvana in the 4th quarter valued at about $409,000. Rafferty Asset Management LLC boosted its stake in Carvana by 38.6% in the fourth quarter. Rafferty Asset Management LLC now owns 43,792 shares of the company’s stock valued at $2,318,000 after buying an additional 12,193 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in Carvana by 10.2% during the fourth quarter. Neuberger Berman Group LLC now owns 6,543 shares of the company’s stock worth $346,000 after acquiring an additional 606 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s shares.

Carvana company profile

(Get a 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 the company’s 360-degree vehicle imaging technology; get financing and warranty coverage; vehicle purchase; and schedule delivery or pickup from your desktop or mobile devices.