Insider Selling: Carvana (NYSE:CVNA) COO Sells $4,112,700.00 in Stock

Carvana Co. (NYSE:CVNA) COO Benjamin Huston sold 10,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $411.27, for a total value of $4,112,700.00. Following the completion of the transaction, the chief operating officer directly owned 98,652 shares of the company’s stock, valued at approximately $40,572,608.04. This trade represents a 9.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Carvana Stock Performance

Shares of NYSE CVNA opened at $384.30 on Friday. The firm’s 50-day moving average price is $435.88 and its 200-day moving average price is $380.37. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $486.89. The company has a market cap of $83.60 billion, a PE ratio of 87.74, a PEG ratio of 0.96 and a beta of 3.57. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVNA. Los Angeles Capital Management LLC increased its position in shares of Carvana by 1,950.7% during the second quarter. Los Angeles Capital Management LLC now owns 111,190 shares of the company’s stock worth $37,467,000 after acquiring an additional 105,768 shares during the period. Federated Hermes Inc. grew its stake in Carvana by 124.9% in the third quarter. Federated Hermes Inc. now owns 265,921 shares of the company’s stock worth $100,316,000 after purchasing an additional 147,683 shares in the last quarter. Hudson Bay Capital Management LP grew its stake in Carvana by 158.0% in the second quarter. Hudson Bay Capital Management LP now owns 16,478 shares of the company’s stock worth $5,552,000 after purchasing an additional 10,090 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Carvana by 11.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 637,462 shares of the company’s stock worth $240,476,000 after purchasing an additional 64,424 shares during the period. Finally, Strs Ohio raised its position in Carvana by 89.9% during the 3rd quarter. Strs Ohio now owns 37,756 shares of the company’s stock valued at $14,243,000 after purchasing an additional 17,878 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Bank of America increased their price target on Carvana from $455.00 to $515.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Wedbush increased their target price on Carvana from $400.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, December 19th. JPMorgan Chase & Co. boosted their price target on Carvana from $490.00 to $510.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. DA Davidson set a $360.00 price objective on shares of Carvana in a research note on Thursday, October 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $500.00 price objective on shares of Carvana in a report on Monday, November 17th. Nineteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $474.27.

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.