Benjamin E. Huston Sells 10,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) COO Benjamin E. Huston sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $253.56, for a total value of $2,535,600.00. Following the completion of the sale, the chief operating officer now owns 139,294 shares of the company’s stock, valued at approximately $35,319,386.64. This trade represents a 6.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Carvana Stock Performance

Shares of CVNA opened at $259.29 on Tuesday. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. Carvana Co. has a 12 month low of $97.55 and a 12 month high of $292.84. The firm has a fifty day simple moving average of $206.35 and a 200 day simple moving average of $225.41. The stock has a market capitalization of $55.27 billion, a price-to-earnings ratio of 165.15 and a beta of 3.61.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CVNA shares. JMP Securities cut their price target on Carvana from $340.00 to $275.00 and set a “market outperform” rating for the company in a report on Wednesday, April 9th. Robert W. Baird reduced their target price on shares of Carvana from $250.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, April 4th. Citigroup lowered their price target on Carvana from $320.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Evercore ISI lowered their price objective on Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 11th. Finally, Piper Sandler increased their price objective on shares of Carvana from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.76.

Institutional Investors Weigh In On Carvana

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Carvana by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock valued at $2,323,463,000 after acquiring an additional 610,234 shares during the period. Lingotto Investment Management LLP boosted its position in shares of Carvana by 1.5% in the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock valued at $810,827,000 after acquiring an additional 57,215 shares during the period. Durable Capital Partners LP raised its stake in Carvana by 6.3% in the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock worth $440,932,000 after purchasing an additional 129,246 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Carvana by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock valued at $381,592,000 after buying an additional 75,250 shares during the period. Finally, Whale Rock Capital Management LLC lifted its position in shares of Carvana by 29.8% during the 4th quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company’s stock valued at $247,017,000 after acquiring an additional 278,760 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.