Insider Selling: Carvana Co. (NYSE:CVNA) COO Sells $10,517,500.00 in Stock

Carvana Co. (NYSE:CVNA) COO Benjamin E. Huston sold 50,000 shares of the 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 sale, the chief operating officer now owns 146,278 shares of the company’s stock, valued at approximately $30,769,577.30. This represents a 25.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Carvana Price Performance

Shares of Carvana stock opened at $204.40 on Friday. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The business has a 50 day simple moving average of $227.25 and a two-hundred day simple moving average of $216.89. The stock has a market capitalization of $43.57 billion, a P/E ratio of 130.19 and a beta of 3.56. Carvana Co. has a 12 month low of $67.61 and a 12 month high of $292.84.

Carvana (NYSE:CVNA) last issued its 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 business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. As a group, analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CVNA. Wellington Management Group LLP grew its position in shares of Carvana by 4.1% in the fourth quarter. Wellington Management Group LLP now owns 36,215 shares of the company’s stock valued at $7,365,000 after purchasing an additional 1,430 shares in the last quarter. California State Teachers Retirement System grew its holdings in Carvana by 81.5% in the 4th quarter. California State Teachers Retirement System now owns 181,249 shares of the company’s stock valued at $36,859,000 after buying an additional 81,414 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Carvana by 16.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,513 shares of the company’s stock worth $511,000 after acquiring an additional 348 shares during the last quarter. Siemens Fonds Invest GmbH purchased a new position in shares of Carvana during the 4th quarter worth $839,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Carvana during the 4th quarter valued at about $36,527,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVNA has been the subject of several research reports. Citigroup lifted their price objective on shares of Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. JMP Securities reiterated a “market outperform” rating and set a $320.00 price target on shares of Carvana in a research note on Monday, December 16th. Morgan Stanley upgraded Carvana from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $260.00 to $280.00 in a research note on Tuesday. Wedbush set a $250.00 target price on Carvana and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, Piper Sandler raised shares of Carvana from a “neutral” rating to an “overweight” rating and set a $225.00 price target for the company in a research report on Thursday, March 20th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $261.53.

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.