Insider Selling: Carvana (NYSE:CVNA) COO Sells $3,427,500.00 in Stock

Carvana Co. (NYSE:CVNA) COO Benjamin Huston sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $68.55, for a total transaction of $3,427,500.00. Following the sale, the chief operating officer directly owned 458,755 shares in the company, valued at $31,447,655.25. The trade was a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Trading Up 1.2%

Shares of CVNA stock traded up $0.84 during trading hours on Thursday, hitting $68.71. 8,379,061 shares of the company’s stock traded hands, compared to its average volume of 15,753,974. The stock has a market cap of $75.36 billion, a PE ratio of 41.80, a price-to-earnings-growth ratio of 11.11 and a beta of 3.46. The stock’s 50 day simple moving average is $70.44 and its 200 day simple moving average is $73.93. The company has a quick ratio of 2.57, a current ratio of 4.09 and a debt-to-equity ratio of 1.05. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $0.32 by $1.37. The company had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.12 billion. Carvana had a net margin of 6.40% and a return on equity of 41.46%. On average, sell-side analysts anticipate that Carvana Co. will post 1.58 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on CVNA. Royal Bank Of Canada reissued an “outperform” rating and set a $92.00 target price on shares of Carvana in a research report on Friday, June 12th. JPMorgan Chase & Co. boosted their price target on shares of Carvana from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Bank of America upped their price objective on shares of Carvana from $72.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Barclays set a $93.00 price objective on shares of Carvana and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Finally, William Blair restated an “outperform” rating on shares of Carvana in a report on Friday, March 13th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.14.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. First Horizon Corp boosted its position in Carvana by 6.4% in the fourth quarter. First Horizon Corp now owns 418 shares of the company’s stock worth $176,000 after purchasing an additional 25 shares during the last quarter. Finivi Inc. raised its stake in shares of Carvana by 4.6% during the 4th quarter. Finivi Inc. now owns 698 shares of the company’s stock worth $295,000 after purchasing an additional 31 shares during the period. HB Wealth Management LLC raised its stake in shares of Carvana by 1.0% during the 4th quarter. HB Wealth Management LLC now owns 3,190 shares of the company’s stock worth $1,346,000 after purchasing an additional 31 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its holdings in shares of Carvana by 1.7% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock worth $622,000 after buying an additional 31 shares during the last quarter. Finally, Insigneo Advisory Services LLC boosted its holdings in shares of Carvana by 4.8% in the 4th quarter. Insigneo Advisory Services LLC now owns 696 shares of the company’s stock worth $294,000 after buying an additional 32 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Company Profile

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.