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

Carvana Co. (NYSE:CVNA) COO Benjamin Huston sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total value of $3,577,500.00. Following the completion of the transaction, the chief operating officer owned 478,693 shares of the company’s stock, valued at $34,250,484.15. The trade was a 9.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Trading Up 1.7%

Carvana stock opened at $74.65 on Friday. The stock has a market cap of $82.15 billion, a P/E ratio of 41.29, a PEG ratio of 2.15 and a beta of 3.49. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. Carvana Co. has a 1 year low of $54.46 and a 1 year high of $97.38. The firm’s 50 day moving average price is $68.89 and its 200-day moving average price is $68.31.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The firm had revenue of $7.38 billion during the quarter, compared to analyst estimates of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. Carvana’s revenue for the quarter was up 52.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.51 earnings per share. On average, equities analysts predict that Carvana Co. will post 1.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carvana

A number of hedge funds have recently made changes to their positions in CVNA. California State Teachers Retirement System grew its position in Carvana by 31,281.7% during the second quarter. California State Teachers Retirement System now owns 63,866,397 shares of the company’s stock valued at $4,203,686,000 after buying an additional 63,662,882 shares during the period. State Street Corp grew its holdings in shares of Carvana by 93.7% during the fourth quarter. State Street Corp now owns 5,714,779 shares of the company’s stock worth $2,411,751,000 after buying an additional 2,764,759 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Carvana by 345.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company’s stock valued at $218,867,000 after purchasing an additional 2,579,295 shares in the last quarter. Amundi increased its holdings in shares of Carvana by 379.7% in the second quarter. Amundi now owns 2,421,045 shares of the company’s stock valued at $159,353,000 after purchasing an additional 1,916,349 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Carvana by 42.9% in the fourth quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock valued at $2,405,959,000 after purchasing an additional 1,711,144 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. BTIG Research restated a “buy” rating and set a $87.00 price objective on shares of Carvana in a research report on Tuesday, August 18th. Barclays decreased their target price on Carvana from $94.00 to $93.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Citizens Jmp cut their price target on Carvana from $103.00 to $83.00 and set a “market outperform” rating for the company in a report on Thursday, July 30th. DA Davidson set a $67.00 price objective on Carvana in a research note on Thursday, July 30th. Finally, Robert W. Baird set a $72.00 price objective on Carvana in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $84.14.

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.