Benjamin Huston Sells 50,000 Shares of Carvana (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) COO Benjamin Huston sold 50,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $70.39, for a total transaction of $3,519,500.00. Following the transaction, the chief operating officer directly owned 515,769 shares of the company’s stock, valued at $36,304,979.91. The trade was a 8.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Price Performance

CVNA stock opened at $66.31 on Friday. Carvana Co. has a 52-week low of $54.46 and a 52-week high of $97.38. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09. The company has a fifty day moving average price of $70.37 and a 200-day moving average price of $75.07. The company has a market capitalization of $72.73 billion, a P/E ratio of 40.33, a PEG ratio of 10.74 and a beta of 3.45.

Carvana (NYSE:CVNA) last posted 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. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The company had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.12 billion. As a group, equities analysts expect that Carvana Co. will post 1.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CVNA shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $107.40 price objective on shares of Carvana in a research report on Thursday, April 30th. Robert W. Baird set a $88.00 price objective on shares of Carvana in a research report on Friday, May 15th. Bank of America increased their price objective on shares of Carvana from $72.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 21st. Citigroup reiterated an “outperform” rating on shares of Carvana in a research report on Friday, May 1st. Finally, Wells Fargo & Company increased their price objective on shares of Carvana from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.14.

Institutional Investors Weigh In On Carvana

Large investors have recently bought and sold shares of the stock. Gavilan Investment Partners LLC acquired a new stake in Carvana in the third quarter worth $26,030,000. Intech Investment Management LLC grew its holdings in shares of Carvana by 301.4% during the third quarter. Intech Investment Management LLC now owns 7,230 shares of the company’s stock valued at $2,727,000 after buying an additional 5,429 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Carvana by 5.2% during the third quarter. TD Asset Management Inc now owns 133,811 shares of the company’s stock valued at $50,479,000 after buying an additional 6,643 shares during the last quarter. Picton Mahoney Asset Management grew its holdings in shares of Carvana by 581.4% during the third quarter. Picton Mahoney Asset Management now owns 16,491 shares of the company’s stock valued at $6,220,000 after buying an additional 14,071 shares during the last quarter. Finally, Sands Capital Management LLC grew its holdings in shares of Carvana by 87.7% during the third quarter. Sands Capital Management LLC now owns 1,691,515 shares of the company’s stock valued at $638,107,000 after buying an additional 790,288 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.