Insider Selling: Carvana Co. (NYSE:CVNA) COO Sells $8,924,500.00 in Stock

Carvana Co. (NYSE:CVNA) COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the completion of the sale, the chief operating officer now directly owns 196,278 shares in the company, valued at approximately $35,033,660.22. The trade was a 20.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Carvana Stock Performance

CVNA opened at $176.34 on Thursday. 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 Co. has a 52-week low of $67.61 and a 52-week high of $292.84. The firm has a market cap of $37.59 billion, a P/E ratio of 112.32 and a beta of 3.56. The business’s fifty day moving average is $227.84 and its 200-day moving average is $214.38.

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

Analyst Upgrades and Downgrades

CVNA has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $340.00 price objective on shares of Carvana in a research note on Friday, March 7th. Citigroup increased their price target on Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Stephens reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Carvana in a research report on Monday, March 3rd. Robert W. Baird increased their price objective on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Finally, Bank of America reduced their target price on shares of Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a report on Friday, March 14th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $262.71.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC boosted its holdings in shares of Carvana by 3.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock valued at $313,000 after purchasing an additional 51 shares in the last quarter. Bleakley Financial Group LLC raised its stake in Carvana by 2.8% during the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock worth $483,000 after acquiring an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Carvana by 21.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after acquiring an additional 74 shares during the last quarter. Great Lakes Advisors LLC boosted its stake in shares of Carvana by 2.1% in the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock valued at $752,000 after purchasing an additional 77 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

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.