Carvana (NYSE:CVNA) COO Sells $3,427,500.00 in Stock

Carvana Co. (NYSE:CVNA) COO Benjamin Huston sold 50,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $68.55, for a total transaction of $3,427,500.00. Following the transaction, the chief operating officer directly owned 458,755 shares of the company’s stock, valued at $31,447,655.25. This represents a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Performance

Shares of NYSE:CVNA traded up $0.84 during mid-day trading on Thursday, reaching $68.71. The company had a trading volume of 8,379,061 shares, compared to its average volume of 15,753,974. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05. The company’s 50-day moving average price is $70.44 and its 200-day moving average price is $73.93. The firm has a market cap of $75.36 billion, a price-to-earnings ratio of 41.80, a PEG ratio of 11.11 and a beta of 3.46.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The business had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.12 billion. As a group, equities research analysts anticipate that Carvana Co. will post 1.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Gordon Haskett upped their price target on shares of Carvana from $67.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. Bank of America lifted their price objective on shares of Carvana from $72.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Jefferies Financial Group lowered their target price on shares of Carvana from $97.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Argus dropped their target price on Carvana from $500.00 to $100.00 in a research report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Carvana in a report on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.14.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently modified their holdings of CVNA. First Horizon Corp grew its stake in Carvana by 6.4% during the fourth quarter. First Horizon Corp now owns 418 shares of the company’s stock valued at $176,000 after acquiring an additional 25 shares in the last quarter. Finivi Inc. lifted its stake in Carvana by 4.6% in the 4th quarter. Finivi Inc. now owns 698 shares of the company’s stock worth $295,000 after purchasing an additional 31 shares in the last quarter. HB Wealth Management LLC boosted its holdings in Carvana by 1.0% in the 4th quarter. HB Wealth Management LLC now owns 3,190 shares of the company’s stock valued at $1,346,000 after purchasing an additional 31 shares during the period. Gilder Gagnon Howe & Co. LLC grew its position in shares of Carvana by 1.7% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock valued at $622,000 after purchasing an additional 31 shares in the last quarter. Finally, Insigneo Advisory Services LLC grew its position in shares of Carvana by 4.8% during the 4th quarter. Insigneo Advisory Services LLC now owns 696 shares of the company’s stock valued at $294,000 after purchasing an additional 32 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

About Carvana

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.