Benjamin E. Huston Sells 10,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Key Points

• Benjamin E. Huston, COO of Carvana Co., sold 10,000 shares at an average price of $370.55, totaling $3,705,500, reducing his ownership by 7.88%.
• Carvana reported a 41.9% increase in revenue year-over-year, with $4.84 billion for the quarter and earnings per share exceeding analysts' expectations.
• The stock currently has an average target price of $379.65 based on analyst ratings, with six holding and thirteen buying the stock.

Carvana Co. (NYSE:CVNA - Get Free Report) COO Benjamin E. Huston sold 10,000 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $370.55, for a total value of $3,705,500.00. Following the completion of the transaction, the chief operating officer directly owned 116,855 shares in the company, valued at $43,300,620.25. The trade was a 7.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Carvana Price Performance

Shares of CVNA traded down $6.99 during mid-day trading on Monday, hitting $360.79. 3,782,462 shares of the stock were exchanged, compared to its average volume of 4,271,004. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The company has a market cap of $77.26 billion, a PE ratio of 90.42, a price-to-earnings-growth ratio of 1.25 and a beta of 3.57. Carvana Co. has a 52-week low of $118.50 and a 52-week high of $413.33. The firm has a 50-day moving average of $333.58 and a two-hundred day moving average of $268.06.

Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the firm posted ($0.05) EPS. The business's quarterly revenue was up 41.9% on a year-over-year basis. On average, equities analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Institutional Investors Weigh In On Carvana

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. J.Safra Asset Management Corp raised its position in Carvana by 140.8% in the 1st quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock worth $709,000 after purchasing an additional 1,982 shares during the period. Worldquant Millennium Advisors LLC purchased a new stake in shares of Carvana in the fourth quarter worth approximately $51,091,000. Farther Finance Advisors LLC lifted its stake in shares of Carvana by 333.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock worth $740,000 after acquiring an additional 2,678 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Carvana during the 4th quarter worth approximately $36,527,000. Finally, Brucke Financial Inc. purchased a new position in Carvana during the 4th quarter valued at $415,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley raised their target price on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Oppenheimer raised Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price objective on the stock in a research report on Friday, July 25th. DA Davidson boosted their price objective on Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a research note on Thursday. Stephens raised their target price on shares of Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Finally, Bank of America upped their price target on shares of Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a research report on Thursday. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $379.65.

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.

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