Benjamin E. Huston Sells 18,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) COO Benjamin E. Huston sold 18,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $115.07, for a total value of $2,071,260.00. Following the completion of the transaction, the chief operating officer now owns 213,548 shares in the company, valued at $24,572,968.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Carvana Price Performance

Shares of CVNA stock traded up $5.22 during trading hours on Friday, hitting $121.72. The stock had a trading volume of 8,523,599 shares, compared to its average volume of 6,314,580. Carvana Co. has a one year low of $6.92 and a one year high of $124.20. The stock’s 50-day moving average price is $80.75 and its two-hundred day moving average price is $55.27. The stock has a market capitalization of $24.58 billion, a price-to-earnings ratio of 53.39 and a beta of 3.28.

Carvana (NYSE:CVNA) last issued its earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the business earned ($0.97) earnings per share. The company’s revenue was down 14.6% on a year-over-year basis. As a group, equities research analysts predict that Carvana Co. will post -3.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CVNA has been the topic of a number of research reports. Wells Fargo & Company raised their price target on Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Thursday. Evercore ISI dropped their price target on Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Needham & Company LLC restated a “hold” rating on shares of Carvana in a research note on Thursday. Raymond James upgraded Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. Finally, Morgan Stanley lifted their target price on Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Carvana presently has a consensus rating of “Hold” and a consensus price target of $73.44.

Institutional Investors Weigh In On Carvana

Several large investors have recently made changes to their positions in CVNA. Parallel Advisors LLC grew its position in Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after acquiring an additional 194 shares in the last quarter. Diversified Trust Co grew its position in Carvana by 6.0% in the fourth quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock worth $300,000 after acquiring an additional 319 shares in the last quarter. Arizona State Retirement System grew its position in Carvana by 1.5% in the third quarter. Arizona State Retirement System now owns 25,698 shares of the company’s stock worth $1,079,000 after acquiring an additional 377 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in Carvana by 11.9% in the first quarter. Sequoia Financial Advisors LLC now owns 4,687 shares of the company’s stock worth $412,000 after acquiring an additional 500 shares in the last quarter. Finally, Blue Trust Inc. purchased a new position in Carvana in the fourth quarter worth about $29,000. 56.71% of the stock is owned by institutional investors.

About Carvana

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.