Carvana Co. (NYSE:CVNA) COO Sells $3,264,500.00 in Stock

Carvana Co. (NYSE:CVNA - Get Free Report) COO Benjamin E. Huston sold 10,000 shares of Carvana stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $326.45, for a total value of $3,264,500.00. Following the transaction, the chief operating officer now owns 138,074 shares in the company, valued at approximately $45,074,257.30. This trade represents a 6.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Carvana Stock Performance

NYSE CVNA traded down $2.06 during trading on Thursday, reaching $343.58. 3,930,719 shares of the company's stock were exchanged, compared to its average volume of 3,963,381. The stock has a market capitalization of $73.58 billion, a P/E ratio of 218.84 and a beta of 3.61. The business has a 50 day moving average price of $253.22 and a 200-day moving average price of $237.20. Carvana Co. has a fifty-two week low of $100.05 and a fifty-two week high of $348.47. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.76. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the previous year, the business earned $0.23 earnings per share. The firm's quarterly revenue was up 38.3% on a year-over-year basis. Sell-side analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CVNA. Citigroup lifted their price objective on shares of Carvana from $280.00 to $325.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. JMP Securities lowered their price objective on shares of Carvana from $340.00 to $275.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 9th. Bank of America lifted their target price on shares of Carvana from $290.00 to $295.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. DA Davidson boosted their price objective on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. lowered their target price on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $275.65.

Institutional Investors Weigh In On Carvana

A number of hedge funds have recently made changes to their positions in the stock. Strs Ohio acquired a new position in shares of Carvana during the first quarter worth $852,000. Geneos Wealth Management Inc. lifted its position in Carvana by 251.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock valued at $53,000 after acquiring an additional 181 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in Carvana by 0.6% during the 1st quarter. IFM Investors Pty Ltd now owns 21,061 shares of the company's stock worth $4,403,000 after acquiring an additional 135 shares during the last quarter. Bayforest Capital Ltd increased its position in shares of Carvana by 41.5% during the first quarter. Bayforest Capital Ltd now owns 1,773 shares of the company's stock valued at $371,000 after acquiring an additional 520 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Carvana by 27.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 529,596 shares of the company's stock worth $110,728,000 after purchasing an additional 114,526 shares during the period. 56.71% of the stock is currently 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.