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

Key Points

• Carvana COO Benjamin Huston sold 50,000 shares at an average price of $64.50, generating $3.225 million. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his ownership by 8.54% to 535,709 shares.
• Carvana shares rose 2.7% to $67.91, while the company reported quarterly EPS of $0.42 and revenue of $7.38 billion—beating analyst estimates and representing 52.4% year-over-year revenue growth.
• Analysts maintain a “Moderate Buy” consensus on CVNA, with an average price target of $84.14. Institutional investors own 56.71% of the company, with several major firms increasing their positions.

Carvana Co. (NYSE:CVNA - Get Free Report) COO Benjamin Huston sold 50,000 shares of Carvana stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $64.50, for a total transaction of $3,225,000.00. Following the transaction, the chief operating officer owned 535,709 shares of the company's stock, valued at $34,553,230.50. This represents a 8.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Up 2.7%

Shares of CVNA traded up $1.78 on Tuesday, reaching $67.91. The company's stock had a trading volume of 7,785,858 shares, compared to its average volume of 14,964,482. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94. Carvana Co. has a twelve month low of $54.46 and a twelve month high of $97.38. The stock has a market capitalization of $74.49 billion, a PE ratio of 37.56, a PEG ratio of 2.30 and a beta of 3.46. The firm has a fifty day moving average of $66.81 and a 200-day moving average of $70.45.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.03. The business had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company's quarterly revenue was up 52.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.51 EPS. Equities analysts predict that Carvana Co. will post 1.65 EPS for the current year.

Wall Street Analyst Weigh In

CVNA has been the topic of several analyst reports. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Carvana in a research report on Thursday, June 18th. Citigroup dropped their price objective on Carvana from $93.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $80.00 price objective on shares of Carvana in a report on Friday. Stephens upped their target price on shares of Carvana from $86.00 to $97.00 in a research note on Thursday, April 30th. Finally, Morgan Stanley set a $90.00 target price on shares of Carvana and gave the company an "overweight" rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Carvana currently has a consensus rating of "Moderate Buy" and an average price target of $84.14.

Institutional Trading of Carvana

A number of institutional investors and hedge funds have recently modified their holdings of CVNA. Price T Rowe Associates Inc. MD boosted its position in Carvana by 8.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company's stock worth $7,481,081,000 after purchasing an additional 1,407,762 shares during the last quarter. Vanguard Group Inc. grew its stake in Carvana by 24.7% in the 4th quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company's stock valued at $7,082,804,000 after purchasing an additional 3,328,115 shares during the period. State Street Corp increased its position in shares of Carvana by 93.7% during the 4th quarter. State Street Corp now owns 5,714,779 shares of the company's stock valued at $2,411,751,000 after purchasing an additional 2,764,759 shares during the last quarter. Capital Research Global Investors increased its position in shares of Carvana by 42.9% during the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company's stock valued at $2,405,959,000 after purchasing an additional 1,711,144 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Carvana by 55.4% during the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company's stock worth $1,632,763,000 after purchasing an additional 1,382,852 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Company Profile

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.

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