Carvana Co. (NYSE:CVNA) Major Shareholder Ernest C. Garcia II Sells 100,000 Shares\n\nKey Points:\n* Major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana Co. for approximately $35.96 million, reducing his ownership by 0.29% to 34.74 million shares.\n* Carvana recently reported earnings of $1.28 per share, exceeding analyst expectations, with a revenue increase of 41.9% year-over-year, totaling $4.84 billion for the quarter.\n* Following Garcia's sale, several analysts have upgraded Carvana's stock ratings, with Bank of America raising the target price from $375 to $425 and maintaining a 'buy' rating.\n\nCarvana Co. last issued its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the business posted ($0.05) earnings per share. The firm's revenue for the quarter was up 41.9% compared to the same quarter last year.\n\nAs a group, sell-side analysts anticipate that Carvana Co. will post 2.85 EPS for the current year. Institutional Trading of Carvana:\n* Hilltop National Bank purchased a new position in shares of Carvana during the second quarter valued at approximately $25,000.\n* SJS Investment Consulting Inc. boosted its position in Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company's stock worth $36,000 after acquiring an additional 96 shares during the last quarter.\n* LRI Investments LLC acquired a new stake in Carvana during the second quarter worth approximately $42,000.\n* Brooklyn Investment Group boosted its position in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after acquiring an additional 125 shares during the last quarter.\n* N.E.W. Advisory Services LLC acquired a new stake in Carvana during the first quarter worth approximately $33,000.\n\nHedge funds and other institutional investors own 56.71% of the company's stock.\n\nWall Street Analyst Weigh In:\n* Bank of America lifted their target price on shares of Carvana from $375.00 to $425.00 and gave the company a 'buy' rating in a report on Thursday, July 31st.\n* Citigroup reiterated an 'outperform' rating on shares of Carvana in a report on Thursday, July 31st.\n* Wedbush upgraded shares of Carvana to a 'hold' rating in a research note on Thursday, May 8th.\n* William Blair restated an 'outperform' rating on shares of Carvana in a research note on Wednesday, July 23rd.\n* Oppenheimer upgraded shares of Carvana from a 'market perform' rating to an 'outperform' rating and set a $450.00 price target for the company in a research note on Friday, July 25th.\n\nSix research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of 'Moderate Buy' and an average target price of $379.65.\n\nAbout Carvana Co:\nCarvana 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; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.\n\nErnest C. Garcia II also recently made the following trade(s):\n* On Tuesday, August 5th, Ernest C. Garcia II sold 100,000 shares of Carvana stock at an average price of $360.20, for a total transaction of $36,020,000.00.\n* On Friday, August 1st, Ernest C. Garcia II sold 100,000 shares of Carvana stock at an average price of $371.30, for a total transaction of $37,130,000.00.\n* On Thursday, July 31st, Ernest C. Garcia II sold 6,624 shares of Carvana stock at an average price of $409.89, for a total transaction of $2,715,111.36.\n* On Wednesday, July 30th, Ernest C. Garcia II sold 50,000 shares of Carvana stock at an average price of $332.21, for a total transaction of $16,610,500.00.\n* On Monday, July 28th, Ernest C. Garcia II sold 50,000 shares of Carvana stock at an average price of $335.66, for a total transaction of $16,783,000.00.\n* On Friday, July 25th, Ernest C. Garcia II sold 50,000 shares of Carvana stock at an average price of $335.34, for a total transaction of $16,767,000.00.\n* On Wednesday, July 23rd, Ernest C. Garcia II sold 50,000 shares of Carvana stock at an average price of $337.22, for a total transaction of $16,861,000.00.\n* On Monday, July 21st, Ernest C. Garcia II sold 50,000 shares of Carvana stock at an average price of $342.96, for a total transaction of $17,148,000.00.\n* On Friday, July 18th, Ernest C. Garcia II sold 50,000 shares of Carvana stock at an average price of $341.08, for a total transaction of $17,054,000.00.\n* On Wednesday, July 16th, Ernest C. Garcia II sold 100,000 shares of Carvana stock at an average price of $352.40, for a total transaction of $35,240,000.00.\n\nCarvana Price Performance: Traded down $9.32 on Friday, hitting $348.43. 2,819,174 shares of the company were exchanged, compared to its average volume of 3,227,839. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The business's fifty day moving average is $337.34 and its 200 day moving average is $271.80. The firm has a fifty-two week low of $124.39 and a fifty-two week high of $413.33. The firm has a market capitalization of $74.98 billion, a P/E ratio of 87.33, a price-to-earnings-growth ratio of 1.18 and a beta of 3.57.\n\nThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Carvana Co. (NYSE:CVNA) Major Shareholder Ernest C. Garcia II Sells 100,000 Shares

Major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana Co. for approximately $36 million, reducing his ownership to 34.74 million shares. Carvana reported strong quarterly earnings of $1.28 per share, exceeding analyst expectations, with a 41.9% year-over-year revenue increase to $4.84 billion. The company also posted a net margin of 3.46% and a return on equity of 40.57%. Following the shareholder activity, several analysts upgraded Carvana's stock ratings, including Bank of America, which raised its target price to $425 from $375 and maintained a 'buy' rating. Institutional investors collectively own 56.71% of the company's stock. Carvana operates an e-commerce platform for buying and selling used cars in the United States, leveraging 360-degree imaging and digital financing tools.