Carvana (NYSE:CVNA) COO Benjamin Huston Sells 50,000 Shares of Stock

Carvana Co. (NYSE:CVNA) COO Benjamin Huston sold 50,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $68.55, for a total transaction of $3,427,500.00. Following the completion of the sale, the chief operating officer owned 458,755 shares in the company, valued at $31,447,655.25. The trade was a 9.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Performance

Shares of CVNA stock opened at $68.71 on Friday. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05. The firm has a fifty day moving average price of $70.44 and a 200 day moving average price of $73.93. The company has a market cap of $75.36 billion, a P/E ratio of 41.80, a PEG ratio of 11.45 and a beta of 3.46. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $1.37. The company had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.12 billion. Carvana had a return on equity of 41.46% and a net margin of 6.40%. Sell-side analysts predict that Carvana Co. will post 1.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carvana

Hedge funds have recently modified their holdings of the business. Ascentis Independent Advisors purchased a new stake in Carvana in the 1st quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Carvana during the 4th quarter worth $29,000. Farmers & Merchants Investments Inc. purchased a new position in Carvana during the 4th quarter worth $29,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in Carvana by 152.6% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after purchasing an additional 58 shares during the period. Finally, Motiv8 Investments LLC acquired a new position in Carvana in the fourth quarter valued at $33,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CVNA. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $92.00 price target on shares of Carvana in a report on Friday, June 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Carvana in a report on Thursday, June 18th. William Blair restated an “outperform” rating on shares of Carvana in a research report on Friday, March 13th. Evercore upped their target price on shares of Carvana from $78.00 to $80.00 in a report on Tuesday, April 28th. Finally, Barclays set a $93.00 target price on shares of Carvana and gave the company an “overweight” rating in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $93.14.

Carvana Company Profile

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.