Carvana (NYSE:CVNA) COO Sells $3,519,500.00 in Stock

Carvana Co. (NYSE:CVNA) COO Benjamin Huston sold 50,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $70.39, for a total value of $3,519,500.00. Following the completion of the transaction, the chief operating officer directly owned 515,769 shares of the company’s stock, valued at $36,304,979.91. The trade was a 8.84% decrease in their ownership of the stock. The transaction 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 Price Performance

Carvana stock opened at $66.50 on Friday. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The business has a fifty day moving average price of $70.50 and a 200-day moving average price of $75.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 2.57. The firm has a market capitalization of $72.94 billion, a P/E ratio of 40.45, a PEG ratio of 11.17 and a beta of 3.45.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.12 billion. As a group, equities research analysts forecast that Carvana Co. will post 1.58 EPS for the current year.

Analysts Set New Price Targets

CVNA has been the subject of a number of analyst reports. BTIG Research reaffirmed a “buy” rating and issued a $97.00 price target on shares of Carvana in a report on Friday. William Blair reiterated an “outperform” rating on shares of Carvana in a research report on Friday, March 13th. Weiss Ratings downgraded Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 24th. BNP Paribas Exane increased their price objective on Carvana from $77.60 to $85.80 in a research report on Thursday, April 30th. Finally, DA Davidson increased their price objective on Carvana from $64.00 to $67.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.14.

Institutional Investors Weigh In On Carvana

Several hedge funds have recently added to or reduced their stakes in CVNA. Royal Bank of Canada increased its holdings in shares of Carvana by 40.8% in the first quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock worth $6,243,000 after buying an additional 8,654 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Carvana by 251.4% in the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after buying an additional 181 shares during the period. Cerity Partners LLC increased its holdings in shares of Carvana by 28.8% in the second quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock worth $1,847,000 after buying an additional 1,226 shares during the period. AXA S.A. increased its holdings in shares of Carvana by 340.7% in the second quarter. AXA S.A. now owns 4,253 shares of the company’s stock worth $1,433,000 after buying an additional 3,288 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in shares of Carvana by 9.1% in the second quarter. NewEdge Advisors LLC now owns 9,893 shares of the company’s stock worth $3,334,000 after buying an additional 825 shares during the period. Institutional investors own 56.71% of the company’s stock.

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.