Carvana Co. (NYSE:CVNA) COO Sells $2,071,260.00 in Stock

Carvana Co. (NYSE:CVNA) COO Benjamin E. Huston sold 18,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $115.07, for a total value of $2,071,260.00. Following the sale, the chief operating officer now owns 213,548 shares of the company’s stock, valued at approximately $24,572,968.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Carvana Stock Up 4.4 %

Shares of NYSE:CVNA opened at $121.67 on Monday. Carvana Co. has a 52-week low of $6.92 and a 52-week high of $124.20. The stock has a market cap of $24.57 billion, a price-to-earnings ratio of 53.36 and a beta of 3.28. The business has a 50-day moving average price of $81.81 and a 200-day moving average price of $56.03.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.56 billion. The company’s revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.97) earnings per share. As a group, equities analysts anticipate that Carvana Co. will post -3.05 EPS for the current fiscal year.

Analyst Ratings Changes

CVNA has been the subject of a number of analyst reports. Needham & Company LLC restated a “hold” rating on shares of Carvana in a report on Thursday. Raymond James upgraded Carvana from an “underperform” rating to a “market perform” rating in a report on Friday, February 23rd. Wedbush upped their target price on Carvana from $80.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday. TD Cowen upped their target price on Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Finally, Robert W. Baird upped their target price on Carvana from $65.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Carvana currently has an average rating of “Hold” and an average price target of $73.44.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. purchased a new position in shares of Carvana during the 4th quarter valued at about $29,000. Vanguard Group Inc. raised its position in Carvana by 0.7% during the third quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock valued at $393,268,000 after acquiring an additional 62,820 shares in the last quarter. Quantbot Technologies LP acquired a new position in Carvana in the third quarter valued at approximately $2,879,000. Charles Schwab Investment Management Inc. boosted its position in Carvana by 56.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock worth $32,684,000 after purchasing an additional 280,851 shares in the last quarter. Finally, TD Asset Management Inc acquired a new stake in shares of Carvana during the 3rd quarter worth approximately $22,906,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.