Carvana (NYSE:CVNA) COO Sells 50,000 Shares

Carvana Co. (NYSE:CVNA – Get Free Report) COO Benjamin Huston sold 50,000 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $64.50, for a total transaction of $3,225,000.00. Following the sale, the chief operating officer directly owned 535,709 shares in the company, valued at $34,553,230.50. The trade was a 8.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Performance

Shares of NYSE:CVNA traded up $1.78 during trading on Tuesday, hitting $67.91. 7,785,858 shares of the company were exchanged, compared to its average volume of 14,964,482. Carvana Co. has a 52-week low of $54.46 and a 52-week high of $97.38. The stock has a 50 day moving average of $66.81 and a 200 day moving average of $70.45. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. The company has a market cap of $74.49 billion, a PE ratio of 37.56, a P/E/G ratio of 2.30 and a beta of 3.46.

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Carvana (NYSE:CVNA – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the previous year, the business earned $1.51 earnings per share. The firm’s quarterly revenue was up 52.4% compared to the same quarter last year. As a group, equities research analysts predict that Carvana Co. will post 1.65 EPS for the current year.

Wall Street Analysts Forecast Growth

CVNA has been the topic of several analyst reports. Bank of America upped their price target on Carvana from $72.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. BTIG Research reduced their price objective on shares of Carvana from $97.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Barclays decreased their target price on shares of Carvana from $94.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday. Hovde Group increased their target price on shares of Carvana from $39.50 to $48.00 and gave the stock a “market perform” rating in a research note on Tuesday. Finally, UBS Group reissued a “buy” rating and issued a $83.00 price target on shares of Carvana in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $84.14.

View Our Latest Stock Analysis on CVNA

Institutional Investors Weigh In On Carvana

Institutional investors have recently made changes to their positions in the business. First Horizon Corp grew its stake in Carvana by 6.4% during the 4th quarter. First Horizon Corp now owns 418 shares of the company’s stock valued at $176,000 after acquiring an additional 25 shares in the last quarter. Gilder Gagnon Howe & Co. LLC lifted its stake in Carvana by 1.7% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock worth $622,000 after purchasing an additional 31 shares in the last quarter. Finivi Inc. boosted its holdings in shares of Carvana by 4.6% during the 4th quarter. Finivi Inc. now owns 698 shares of the company’s stock worth $295,000 after purchasing an additional 31 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of Carvana by 1.0% during the 4th quarter. HB Wealth Management LLC now owns 3,190 shares of the company’s stock worth $1,346,000 after purchasing an additional 31 shares during the last quarter. Finally, Insigneo Advisory Services LLC grew its position in shares of Carvana by 4.8% in the fourth quarter. Insigneo Advisory Services LLC now owns 696 shares of the company’s stock valued at $294,000 after purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

About Carvana

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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.

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