Carvana (NYSE:CVNA) COO Sells $3,892,700.00 in Stock

Key Points

• Carvana's COO, Benjamin Huston, sold 10,000 shares for approximately $3.89 million, reducing his total ownership by 8.83% to 103,197 shares.
• The company's stock price is currently around $394.49, with a significant rise from a 52-week low of $148.25.
• Carvana recently reported $4.84 billion in revenue for the quarter, exceeding analyst estimates, with a year-over-year revenue growth of 41.9%.

Carvana Co. (NYSE:CVNA - Get Free Report) COO Benjamin Huston sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $389.27, for a total transaction of $3,892,700.00. Following the completion of the sale, the chief operating officer owned 103,197 shares in the company, valued at $40,171,496.19. This represents a 8.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Carvana Stock Down 0.2%

Shares of CVNA traded down $0.92 during mid-day trading on Thursday, hitting $394.49. 1,594,982 shares of the company's stock were exchanged, compared to its average volume of 2,716,359. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. The company has a 50-day simple moving average of $363.74 and a 200 day simple moving average of $307.57. The company has a market cap of $84.89 billion, a PE ratio of 98.87, a P/E/G ratio of 1.30 and a beta of 3.55.

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 return on equity of 40.57% and a net margin of 3.46%.The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter last year, the firm earned ($0.05) earnings per share. The company's revenue was up 41.9% on a year-over-year basis. On average, research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Institutional Trading of Carvana

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hilltop National Bank purchased a new position in shares of Carvana during the 2nd quarter valued at about $25,000. Brooklyn Investment Group lifted its holdings in Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after acquiring an additional 125 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in Carvana in the first quarter valued at approximately $33,000. SJS Investment Consulting Inc. raised its position in Carvana by 960.0% in the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company's stock valued at $36,000 after purchasing an additional 96 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Carvana during the second quarter worth $38,000. Institutional investors own 56.71% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CVNA shares. DA Davidson upped their target price on Carvana from $260.00 to $380.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Stephens restated an "overweight" rating and issued a $440.00 target price on shares of Carvana in a research note on Tuesday, September 23rd. Piper Sandler raised their price target on Carvana from $340.00 to $440.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Gordon Haskett began coverage on Carvana in a research report on Monday, July 14th. They set a "hold" rating and a $329.00 price target on the stock. Finally, Bank of America lifted their price objective on Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Carvana has an average rating of "Moderate Buy" and an average price target of $404.94.

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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