Benjamin E. Huston Sells 50,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.35, for a total value of $10,517,500.00. Following the completion of the transaction, the chief operating officer now directly owns 146,278 shares of the company’s stock, valued at $30,769,577.30. This represents a 25.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Carvana Trading Down 7.5 %

NYSE CVNA traded down $16.54 during trading on Wednesday, hitting $205.12. 4,366,873 shares of the company’s stock traded hands, compared to its average volume of 3,875,114. The stock has a fifty day moving average of $228.48 and a two-hundred day moving average of $216.58. Carvana Co. has a 12-month low of $67.61 and a 12-month high of $292.84. The firm has a market cap of $43.72 billion, a P/E ratio of 130.65 and a beta of 3.56. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. As a group, sell-side analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Royal Bank of Canada increased their target price on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their price objective on shares of Carvana from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Wells Fargo & Company reduced their price objective on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, Citigroup raised their target price on Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $263.88.

Hedge Funds Weigh In On Carvana

Hedge funds have recently modified their holdings of the company. Quent Capital LLC purchased a new position in Carvana during the 4th quarter valued at about $28,000. Global Retirement Partners LLC increased its stake in shares of Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after buying an additional 78 shares during the period. Rialto Wealth Management LLC bought a new position in shares of Carvana during the fourth quarter valued at approximately $31,000. ORG Wealth Partners LLC purchased a new stake in Carvana in the fourth quarter worth $34,000. Finally, Versant Capital Management Inc bought a new stake in Carvana in the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.