Benjamin Huston Sells 50,000 Shares of Carvana (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) COO Benjamin Huston sold 50,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $71.55, for a total value of $3,577,500.00. Following the sale, the chief operating officer directly owned 478,693 shares of the company’s stock, valued at $34,250,484.15. This represents a 9.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Performance

NYSE CVNA traded down $0.95 on Thursday, reaching $73.21. 5,865,145 shares of the stock were exchanged, compared to its average volume of 14,093,805. The firm has a market capitalization of $80.56 billion, a PE ratio of 40.49, a PEG ratio of 2.08 and a beta of 3.49. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The company’s 50-day simple moving average is $68.51 and its two-hundred day simple moving average is $68.24. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The firm had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the prior year, the company posted $1.51 earnings per share. The company’s revenue for the quarter was up 52.4% compared to the same quarter last year. Analysts expect that Carvana Co. will post 1.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Carvana

A number of hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System increased its holdings in shares of Carvana by 31,281.7% in the 2nd quarter. California State Teachers Retirement System now owns 63,866,397 shares of the company’s stock worth $4,203,686,000 after buying an additional 63,662,882 shares during the last quarter. State Street Corp lifted its holdings in shares of Carvana by 93.7% in the 4th quarter. State Street Corp now owns 5,714,779 shares of the company’s stock valued at $2,411,751,000 after acquiring an additional 2,764,759 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Carvana by 345.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company’s stock valued at $218,867,000 after acquiring an additional 2,579,295 shares during the last quarter. Amundi grew its position in Carvana by 379.7% in the second quarter. Amundi now owns 2,421,045 shares of the company’s stock worth $159,353,000 after acquiring an additional 1,916,349 shares in the last quarter. Finally, Capital Research Global Investors grew its position in Carvana by 42.9% in the fourth quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock worth $2,405,959,000 after acquiring an additional 1,711,144 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Citizens Jmp dropped their price objective on Carvana from $103.00 to $83.00 and set a “market outperform” rating for the company in a research note on Thursday, July 30th. UBS Group reissued a “buy” rating and issued a $83.00 price target on shares of Carvana in a report on Friday, July 31st. Jefferies Financial Group dropped their price target on Carvana from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th. Argus cut their price objective on shares of Carvana from $500.00 to $100.00 in a report on Monday, May 11th. Finally, Weiss Ratings upgraded shares of Carvana from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Carvana presently has an average rating of “Moderate Buy” and a consensus price target of $84.14.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.