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

Carvana Co. (NYSE:CVNA) COO Benjamin Huston sold 10,000 shares of Carvana stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $324.57, for a total value of $3,245,700.00. Following the transaction, the chief operating officer owned 101,977 shares in the company, valued at approximately $33,098,674.89. This trade represents a 8.93% 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 Down 6.7%

Shares of CVNA stock opened at $309.91 on Wednesday. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $413.33. The stock has a market cap of $66.69 billion, a PE ratio of 70.76, a price-to-earnings-growth ratio of 1.20 and a beta of 3.50. The business’s fifty day moving average is $360.77 and its 200-day moving average is $333.43. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.26). Carvana had a net margin of 3.44% and a return on equity of 30.62%. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same quarter last year, the business posted $0.64 earnings per share. The firm’s revenue for the quarter was up 54.5% compared to the same quarter last year. Equities analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CVNA. Weiss Ratings restated a “hold (c-)” rating on shares of Carvana in a report on Tuesday, October 14th. Wells Fargo & Company lifted their target price on Carvana from $390.00 to $425.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Morgan Stanley set a $450.00 target price on Carvana in a report on Monday, October 20th. Gordon Haskett began coverage on Carvana in a report on Monday, July 14th. They issued a “hold” rating and a $329.00 target price on the stock. Finally, Evercore ISI decreased their target price on Carvana from $425.00 to $395.00 and set an “in-line” rating on the stock in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and a consensus price target of $415.50.

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently modified their holdings of the business. Berkshire Capital Holdings Inc. boosted its position in shares of Carvana by 632,200.0% in the first quarter. Berkshire Capital Holdings Inc. now owns 63,230 shares of the company’s stock worth $13,220,000 after buying an additional 63,220 shares during the period. Stratos Wealth Partners LTD. acquired a new stake in shares of Carvana in the first quarter worth $359,000. Janney Montgomery Scott LLC acquired a new stake in shares of Carvana in the first quarter worth $204,000. Charles Schwab Investment Management Inc. boosted its position in shares of Carvana by 6.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 490,874 shares of the company’s stock worth $102,632,000 after buying an additional 27,912 shares during the period. Finally, Teacher Retirement System of Texas boosted its position in shares of Carvana by 106.1% in the first quarter. Teacher Retirement System of Texas now owns 16,892 shares of the company’s stock worth $3,532,000 after buying an additional 8,694 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.