Carvana Co. (NYSE:CVNA) COO Sells $10,366,000.00 in Stock

Carvana Co. (NYSE:CVNA) COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $207.32, for a total transaction of $10,366,000.00. Following the completion of the transaction, the chief operating officer now owns 128,116 shares in the company, valued at $26,561,009.12. The trade was a 28.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Carvana Stock Down 10.6 %

Shares of NYSE CVNA opened at $162.54 on Friday. The business has a fifty day moving average of $223.47 and a two-hundred day moving average of $218.92. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. Carvana Co. has a 52-week low of $67.61 and a 52-week high of $292.84. The stock has a market cap of $34.65 billion, a PE ratio of 103.53 and a beta of 3.61.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. As a group, equities research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carvana

A number of hedge funds and other institutional investors have recently bought and sold shares of CVNA. Cerity Partners LLC increased its stake in shares of Carvana by 112.8% in the third quarter. Cerity Partners LLC now owns 4,215 shares of the company’s stock valued at $734,000 after buying an additional 2,234 shares in the last quarter. Townsquare Capital LLC acquired a new stake in Carvana in the 3rd quarter valued at about $282,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Carvana by 13.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,140 shares of the company’s stock worth $3,332,000 after acquiring an additional 2,243 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Carvana during the third quarter valued at approximately $1,772,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Carvana in the third quarter valued at approximately $270,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. DA Davidson raised their price target on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. lowered their target price on Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. JMP Securities reiterated a “market outperform” rating and set a $320.00 price target on shares of Carvana in a report on Monday, December 16th. Bank of America lowered their price objective on shares of Carvana from $270.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Finally, Piper Sandler upgraded shares of Carvana from a “neutral” rating to an “overweight” rating in a research note on Monday. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $258.59.

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.