Insider Selling: Carvana (NYSE:CVNA) COO Sells $3,892,700.00 in Stock

Carvana Co. (NYSE:CVNA) COO Benjamin Huston sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $389.27, for a total value of $3,892,700.00. Following the completion of the transaction, the chief operating officer directly owned 103,197 shares in the company, valued at approximately $40,171,496.19. The trade was a 8.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Carvana Stock Performance

Shares of CVNA opened at $376.56 on Friday. The business’s 50 day moving average is $364.64 and its two-hundred day moving average is $309.94. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $413.33. The firm has a market cap of $81.04 billion, a price-to-earnings ratio of 94.38, a PEG ratio of 1.23 and a beta of 3.55. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.19. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.Carvana’s quarterly revenue was up 41.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) EPS. Analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Carvana

Several large investors have recently added to or reduced their stakes in the stock. Aaron Wealth Advisors LLC acquired a new stake in Carvana in the third quarter worth $340,000. Corient Private Wealth LLC grew its stake in shares of Carvana by 213.4% in the second quarter. Corient Private Wealth LLC now owns 6,494 shares of the company’s stock worth $2,188,000 after purchasing an additional 4,422 shares in the last quarter. American Trust bought a new position in shares of Carvana in the second quarter worth $394,000. Orion Porfolio Solutions LLC grew its stake in shares of Carvana by 27.3% in the second quarter. Orion Porfolio Solutions LLC now owns 4,380 shares of the company’s stock worth $1,476,000 after purchasing an additional 940 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Carvana in the second quarter worth $228,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company upped their price target on Carvana from $390.00 to $425.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Oppenheimer raised Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price target on the stock in a research report on Friday, July 25th. DA Davidson upped their price target on Carvana from $260.00 to $380.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Piper Sandler upped their price target on Carvana from $340.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Carvana in a research report on Saturday, September 27th. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $404.94.

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.