Carvana (NYSE:CVNA) COO Benjamin Huston Sells 10,000 Shares

Carvana Co. (NYSE:CVNA) COO Benjamin Huston sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $309.86, for a total transaction of $3,098,600.00. Following the completion of the sale, the chief operating officer directly owned 92,924 shares of the company’s stock, valued at $28,793,430.64. The trade was a 9.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Carvana Stock Up 0.0%

Shares of NYSE CVNA traded up $0.08 during midday trading on Friday, reaching $313.99. 1,994,512 shares of the company’s stock traded hands, compared to its average volume of 2,959,618. The company has a market cap of $68.72 billion, a price-to-earnings ratio of 39.05 and a beta of 3.61. The stock’s 50 day simple moving average is $346.11 and its 200-day simple moving average is $372.26. The company has a quick ratio of 2.73, a current ratio of 4.31 and a debt-to-equity ratio of 1.15. Carvana Co. has a one year low of $148.25 and a one year high of $486.89.

Shares of Carvana are going to split on Thursday, May 7th. The 5-1 split was announced on Friday, March 13th. The newly created shares will be payable to shareholders after the closing bell on Wednesday, May 6th.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $3.12. Carvana had a return on equity of 50.96% and a net margin of 6.92%.The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter last year, the firm earned $0.56 EPS. The business’s revenue for the quarter was up 58.0% on a year-over-year basis. On average, analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group set a $485.00 price target on shares of Carvana in a research report on Friday, February 20th. Weiss Ratings downgraded shares of Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 24th. Citigroup reduced their price objective on shares of Carvana from $550.00 to $465.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Gordon Haskett decreased their target price on shares of Carvana from $435.00 to $350.00 and set a “hold” rating for the company in a research report on Friday, February 20th. Finally, William Blair reaffirmed an “outperform” rating on shares of Carvana in a report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and an average price target of $440.59.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Carvana by 24.7% during the fourth quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock worth $7,082,804,000 after buying an additional 3,328,115 shares during the period. State Street Corp increased its position in shares of Carvana by 93.7% in the 4th quarter. State Street Corp now owns 5,714,779 shares of the company’s stock valued at $2,411,751,000 after acquiring an additional 2,764,759 shares during the period. Capital Research Global Investors raised its stake in Carvana by 42.9% in the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock worth $2,405,959,000 after acquiring an additional 1,711,144 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Carvana by 8.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock worth $7,481,081,000 after acquiring an additional 1,407,762 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Carvana by 55.4% during the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock worth $1,632,763,000 after acquiring an additional 1,382,852 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.