Insider Selling: Carvana Co. (NYSE:CVNA) COO Sells 50,000 Shares of Stock

Carvana Co. (NYSE:CVNA) COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.35, for a total transaction of $10,517,500.00. Following the completion of the transaction, the chief operating officer now directly owns 146,278 shares in the company, valued at $30,769,577.30. The trade was a 25.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Carvana Stock Performance

Shares of CVNA stock opened at $204.40 on Friday. The stock’s 50-day moving average is $227.25 and its two-hundred day moving average is $216.89. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. Carvana Co. has a 1 year low of $67.61 and a 1 year high of $292.84. The firm has a market cap of $43.57 billion, a price-to-earnings ratio of 130.19 and a beta of 3.56.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. Analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVNA. Piper Sandler raised shares of Carvana from a “neutral” rating to an “overweight” rating and set a $225.00 price objective for the company in a research report on Thursday, March 20th. DA Davidson raised their price target on Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Stephens reiterated an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a report on Monday, March 3rd. Robert W. Baird raised their target price on Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Citigroup boosted their price target on shares of Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $261.53.

Institutional Trading of Carvana

Hedge funds have recently added to or reduced their stakes in the stock. Cerity Partners LLC raised its stake in shares of Carvana by 112.8% during the third quarter. Cerity Partners LLC now owns 4,215 shares of the company’s stock worth $734,000 after purchasing an additional 2,234 shares during the last quarter. Larson Financial Group LLC purchased a new position in Carvana in the 3rd quarter valued at $217,000. Daiwa Securities Group Inc. acquired a new position in Carvana in the 3rd quarter valued at $244,000. Harvest Fund Management Co. Ltd raised its position in Carvana by 97.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,489 shares of the company’s stock worth $259,000 after buying an additional 735 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Carvana by 17.7% in the 3rd quarter. Bank of Montreal Can now owns 239,336 shares of the company’s stock worth $40,634,000 after acquiring an additional 35,922 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

About Carvana

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.