Carvana (NYSE:CVNA) COO Sells $3,577,500.00 in Stock

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

Carvana Stock Down 1.3%

CVNA traded down $0.95 during trading on Thursday, reaching $73.21. The stock had a trading volume of 5,865,145 shares, compared to its average volume of 14,093,805. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The company has a market capitalization of $80.56 billion, a price-to-earnings ratio of 40.49, a P/E/G ratio of 2.08 and a beta of 3.49. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94. The stock’s 50 day moving average is $68.51 and its two-hundred day moving average is $68.24.

Carvana (NYSE:CVNA) last released 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 for the quarter, compared to the consensus estimate of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The company’s revenue was up 52.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.51 EPS. As a group, analysts expect that Carvana Co. will post 1.68 earnings per share for the current year.

Institutional Investors Weigh In On Carvana

Hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LP increased its holdings in Carvana by 610.0% during the second quarter. Corient Private Wealth LP now owns 43,568 shares of the company’s stock valued at $2,868,000 after buying an additional 37,432 shares during the last quarter. Optimize Financial Inc. raised its position in Carvana by 398.3% in the second quarter. Optimize Financial Inc. now owns 10,050 shares of the company’s stock worth $661,000 after acquiring an additional 8,033 shares during the period. Tucker Asset Management LLC purchased a new position in shares of Carvana during the 2nd quarter worth $397,000. Amundi boosted its stake in shares of Carvana by 379.7% during the 2nd quarter. Amundi now owns 2,421,045 shares of the company’s stock worth $159,353,000 after acquiring an additional 1,916,349 shares during the last quarter. Finally, HighTower Advisors LLC grew its position in shares of Carvana by 306.5% during the 2nd quarter. HighTower Advisors LLC now owns 22,741 shares of the company’s stock valued at $1,497,000 after acquiring an additional 17,146 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Argus dropped their price target on shares of Carvana from $500.00 to $100.00 in a research note on Monday, May 11th. DA Davidson set a $67.00 price objective on shares of Carvana in a research note on Thursday, July 30th. BNP Paribas Exane decreased their target price on shares of Carvana from $86.00 to $69.00 and set a “hold” rating for the company in a report on Thursday, July 30th. UBS Group reaffirmed a “buy” rating and issued a $83.00 target price on shares of Carvana in a report on Friday, July 31st. Finally, Hovde Group upped their target price on shares of Carvana from $39.50 to $48.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.