Carvana Co. (NYSE:CVNA) COO Benjamin E. Huston Sells 50,000 Shares of Stock

Carvana Co. (NYSE:CVNA) COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $207.32, for a total transaction of $10,366,000.00. Following the completion of the transaction, the chief operating officer now directly owns 128,116 shares in the company, valued at $26,561,009.12. This trade represents a 28.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Carvana Trading Up 6.3 %

NYSE:CVNA opened at $226.07 on Thursday. The stock has a market capitalization of $48.19 billion, a price-to-earnings ratio of 143.99 and a beta of 3.56. Carvana Co. has a 1 year low of $67.61 and a 1 year high of $292.84. The stock has a fifty day moving average price of $226.26 and a two-hundred day moving average price of $219.11. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. As a group, sell-side analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CVNA has been the subject of several research analyst reports. Piper Sandler upgraded shares of Carvana from a “neutral” rating to an “overweight” rating in a research note on Monday. Wells Fargo & Company cut their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. DA Davidson increased their price objective on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. cut their target price on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Finally, Bank of America decreased their price target on shares of Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $261.53.

Institutional Investors Weigh In On Carvana

Several institutional investors have recently modified their holdings of the company. Cerity Partners LLC grew its stake in Carvana by 112.8% in the 3rd quarter. Cerity Partners LLC now owns 4,215 shares of the company’s stock valued at $734,000 after acquiring an additional 2,234 shares during the last quarter. Townsquare Capital LLC acquired a new stake in shares of Carvana in the third quarter valued at approximately $282,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Carvana by 13.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,140 shares of the company’s stock worth $3,332,000 after purchasing an additional 2,243 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of Carvana during the 3rd quarter worth approximately $1,772,000. Finally, Captrust Financial Advisors purchased a new stake in Carvana in the 3rd quarter valued at approximately $270,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

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.