Carvana (NYSE:CVNA) COO Benjamin Huston Sells 50,000 Shares of Stock

Carvana Co. (NYSE:CVNA) COO Benjamin Huston sold 50,000 shares of Carvana stock in a transaction on Monday, June 1st. The shares were sold at an average price of $70.39, for a total value of $3,519,500.00. Following the sale, the chief operating officer directly owned 515,769 shares of the company’s stock, valued at $36,304,979.91. This represents a 8.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Trading Down 2.6%

NYSE CVNA opened at $63.92 on Thursday. The stock’s 50-day simple moving average is $70.24 and its two-hundred day simple moving average is $75.05. Carvana Co. has a twelve month low of $54.46 and a twelve month high of $97.38. The company has a quick ratio of 2.57, a current ratio of 4.09 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $70.11 billion, a price-to-earnings ratio of 38.88, a PEG ratio of 11.07 and a beta of 3.45.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, beating 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 business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.12 billion. Research analysts forecast that Carvana Co. will post 1.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CVNA has been the topic of a number of research reports. Robert W. Baird set a $88.00 price target on Carvana in a research report on Friday, May 15th. Bank of America raised their price target on Carvana from $72.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Jefferies Financial Group lowered their price target on Carvana from $97.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. JPMorgan Chase & Co. raised their price target on Carvana from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, Stephens raised their price target on Carvana from $86.00 to $97.00 in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.14.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Carvana during the 4th quarter valued at about $29,000. Farmers & Merchants Investments Inc. purchased a new position in Carvana during the 4th quarter valued at about $29,000. Motiv8 Investments LLC purchased a new position in Carvana during the 4th quarter valued at about $33,000. Ascentis Independent Advisors purchased a new position in Carvana during the 1st quarter valued at about $26,000. Finally, Salomon & Ludwin LLC increased its holdings in Carvana by 112.5% during the 4th quarter. Salomon & Ludwin LLC now owns 85 shares of the company’s stock valued at $37,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

About Carvana

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.