Carvana Co. (NYSE:CVNA) COO Sells $7,545,000.00 in Stock

Carvana Co. (NYSE:CVNA) COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $150.90, for a total value of $7,545,000.00. Following the completion of the transaction, the chief operating officer now owns 123,803 shares of the company’s stock, valued at $18,681,872.70. This trade represents a 28.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Carvana Stock Up 24.5 %

CVNA traded up $43.28 during midday trading on Wednesday, hitting $219.60. 10,804,999 shares of the company’s stock traded hands, compared to its average volume of 4,068,015. 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 company has a market cap of $46.81 billion, a PE ratio of 139.87 and a beta of 3.61. Carvana Co. has a one year low of $67.61 and a one year high of $292.84. The stock’s fifty day simple moving average is $219.24 and its 200-day simple moving average is $219.46.

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

Institutional Trading of Carvana

A number of institutional investors and hedge funds have recently made changes to their positions in CVNA. Vanguard Group Inc. raised its stake in shares of Carvana by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock valued at $2,323,463,000 after acquiring an additional 610,234 shares in the last quarter. Lingotto Investment Management LLP grew its holdings in Carvana by 1.5% during the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock valued at $810,827,000 after purchasing an additional 57,215 shares during the last quarter. Durable Capital Partners LP raised its position in shares of Carvana by 6.3% in the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock valued at $440,932,000 after purchasing an additional 129,246 shares during the period. Geode Capital Management LLC lifted its stake in shares of Carvana by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock worth $381,592,000 after buying an additional 75,250 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Carvana by 6.1% during the 3rd quarter. State Street Corp now owns 1,877,511 shares of the company’s stock worth $326,893,000 after buying an additional 107,610 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CVNA. Citigroup decreased their target price on shares of Carvana from $320.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “overweight” rating in a research report on Monday, March 31st. Wells Fargo & Company cut their target price 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. Bank of America decreased their target price on Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Finally, Evercore ISI dropped their price target on Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 11th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $253.59.

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.