Benjamin Huston Sells 10,000 Shares of Carvana (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) COO Benjamin Huston sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $389.27, for a total transaction of $3,892,700.00. Following the sale, the chief operating officer directly owned 103,197 shares of the company’s stock, valued at approximately $40,171,496.19. This trade represents a 8.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Carvana Stock Performance

Shares of Carvana stock opened at $376.56 on Friday. The company has a 50 day moving average of $364.64 and a 200-day moving average of $309.02. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $413.33. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. The company has a market cap of $81.04 billion, a PE ratio of 94.38, a price-to-earnings-growth ratio of 1.29 and a beta of 3.55.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the firm posted ($0.05) EPS. The firm’s quarterly revenue was up 41.9% on a year-over-year basis. As a group, equities research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carvana

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hilltop National Bank acquired a new position in Carvana in the 2nd quarter valued at approximately $25,000. SJS Investment Consulting Inc. increased its position in Carvana by 960.0% in the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after acquiring an additional 96 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Carvana in the 2nd quarter valued at approximately $38,000. LRI Investments LLC acquired a new position in Carvana in the 2nd quarter valued at approximately $42,000. Finally, Brooklyn Investment Group increased its position in Carvana by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after acquiring an additional 125 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CVNA. JPMorgan Chase & Co. upped their price target on shares of Carvana from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, September 17th. DA Davidson upped their price target on shares of Carvana from $260.00 to $380.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Oppenheimer raised shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price objective for the company in a research note on Friday, July 25th. Evercore ISI increased their price objective on shares of Carvana from $365.00 to $370.00 and gave the company an “in-line” rating in a research note on Tuesday, August 12th. Finally, Gordon Haskett began coverage on shares of Carvana in a research note on Monday, July 14th. They issued a “hold” rating and a $329.00 price objective for the company. Thirteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $404.94.

Carvana Company Profile

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.