Carvana Co. (NYSE:CVNA) COO Sells $8,698,202.89 in Stock

Carvana Co. (NYSE:CVNA - Get Free Report) COO Benjamin E. Huston sold 26,753 shares of Carvana stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $325.13, for a total value of $8,698,202.89. Following the transaction, the chief operating officer now owns 149,294 shares of the company's stock, valued at $48,539,958.22. This represents a 15.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Carvana Trading Down 0.5%

Shares of NYSE CVNA traded down $1.62 during trading on Friday, hitting $341.68. 2,961,715 shares of the company traded hands, compared to its average volume of 3,957,636. Carvana Co. has a 1 year low of $100.05 and a 1 year high of $351.43. The company has a 50-day moving average price of $258.50 and a 200-day moving average price of $238.52. The firm has a market capitalization of $73.17 billion, a P/E ratio of 217.63 and a beta of 3.61. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $3.94 billion. During the same period in the previous year, the company earned $0.23 EPS. The business's quarterly revenue was up 38.3% compared to the same quarter last year. On average, equities analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. JMP Securities cut their price objective on Carvana from $340.00 to $275.00 and set a "market outperform" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley lifted their price objective on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. William Blair restated an "outperform" rating on shares of Carvana in a research report on Thursday, February 20th. JPMorgan Chase & Co. cut their price objective on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Finally, Stephens reaffirmed an "overweight" rating and issued a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $275.65.

Institutional Trading of Carvana

Institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group grew its stake in shares of Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after buying an additional 125 shares during the period. Quent Capital LLC purchased a new stake in shares of Carvana during the 4th quarter valued at $28,000. Global Retirement Partners LLC grew its stake in shares of Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after buying an additional 78 shares during the period. Rialto Wealth Management LLC purchased a new stake in shares of Carvana during the 4th quarter valued at $31,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Carvana during the 1st quarter valued at $33,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.