Carvana Co. (NYSE:CVNA - Get Free Report) COO Benjamin E. Huston sold 14,989 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $275.00, for a total value of $4,121,975.00. Following the transaction, the chief operating officer now directly owns 149,294 shares of the company's stock, valued at approximately $41,055,850. This trade represents a 9.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Carvana Price Performance
Shares of Carvana stock traded down $8.05 during trading hours on Thursday, hitting $297.48. The company's stock had a trading volume of 1,987,033 shares, compared to its average volume of 3,926,655. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The company has a market cap of $63.41 billion, a PE ratio of 189.37 and a beta of 3.61. Carvana Co. has a 12-month low of $97.55 and a 12-month high of $311.88. The business has a 50 day moving average price of $215.64 and a two-hundred day moving average price of $228.91.
Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping 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 firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the previous year, the firm posted $0.23 EPS. The business's quarterly revenue was up 38.3% on a year-over-year basis. Analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on CVNA shares. JPMorgan Chase & Co. decreased their price target on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Robert W. Baird raised their target price on shares of Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Morgan Stanley lifted their price objective on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday. Royal Bank of Canada lifted their price objective on Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $340.00 price objective on shares of Carvana in a report on Thursday, May 8th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Carvana presently has a consensus rating of "Moderate Buy" and a consensus price target of $269.18.
Check Out Our Latest Analysis on CVNA
Institutional Investors Weigh In On Carvana
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Carvana by 13.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock valued at $3,125,749,000 after buying an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Carvana by 9.7% during the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock valued at $2,620,785,000 after buying an additional 1,109,476 shares during the last quarter. Lingotto Investment Management LLP boosted its position in Carvana by 1.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock valued at $810,827,000 after buying an additional 57,215 shares during the period. Durable Capital Partners LP boosted its position in Carvana by 6.3% in the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock valued at $440,932,000 after buying an additional 129,246 shares during the period. Finally, Geode Capital Management LLC boosted its position in Carvana by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock valued at $381,592,000 after buying an additional 75,250 shares during the period. 56.71% of the stock is currently owned by hedge funds and other institutional investors.
About Carvana
(
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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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