Carvana (NYSE:CVNA) COO Benjamin E. Huston Sells 10,000 Shares

Key Points

• Carvana's COO, Benjamin Huston, sold 10,000 shares of stock for approximately $3.65 million, reducing his ownership stake by 8.74%.
• Carvana's stock price decreased by 1.1% to $362.45, amid trading that saw lower than average volume.
• Analysts have forecasted a positive outlook for Carvana, with many raising their price targets, indicating a consensus rating of "Moderate Buy" among multiple analysts.

Carvana Co. (NYSE:CVNA - Get Free Report) COO Benjamin E. Huston sold 10,000 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $364.66, for a total value of $3,646,600.00. Following the completion of the sale, the chief operating officer owned 104,416 shares of the company's stock, valued at approximately $38,076,338.56. This trade represents a 8.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Carvana Price Performance

Shares of Carvana stock traded down $0.94 during trading on Friday, reaching $369.23. The company's stock had a trading volume of 2,443,272 shares, compared to its average volume of 2,311,703. The stock has a 50-day moving average price of $351.83 and a two-hundred day moving average price of $285.87. The stock has a market capitalization of $79.46 billion, a P/E ratio of 92.54, a price-to-earnings-growth ratio of 1.22 and a beta of 3.51. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. Carvana Co. has a one year low of $124.39 and a one year high of $413.33.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The firm had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.54 billion. During the same quarter last year, the company posted ($0.05) EPS. The company's quarterly revenue was up 41.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Institutional Trading of Carvana

A number of institutional investors and hedge funds have recently modified their holdings of CVNA. Comerica Bank boosted its position in shares of Carvana by 6.1% during the fourth quarter. Comerica Bank now owns 2,629 shares of the company's stock worth $535,000 after purchasing an additional 151 shares in the last quarter. AXA S.A. acquired a new stake in Carvana during the 4th quarter worth $201,000. Caxton Associates LP bought a new position in Carvana during the fourth quarter worth about $769,000. Centiva Capital LP grew its stake in Carvana by 159.1% in the fourth quarter. Centiva Capital LP now owns 8,265 shares of the company's stock valued at $1,681,000 after acquiring an additional 5,075 shares during the period. Finally, Castle Hook Partners LP bought a new stake in shares of Carvana in the fourth quarter worth about $116,020,000. 56.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CVNA. Stephens raised their price target on shares of Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Morgan Stanley increased their price objective on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Oppenheimer upgraded Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 target price for the company in a research report on Friday, July 25th. William Blair reaffirmed an "outperform" rating on shares of Carvana in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company raised their price target on Carvana from $390.00 to $425.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $383.47.

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.