Carvana Co. (NYSE:CVNA) COO Benjamin E. Huston Sells 50,000 Shares

Carvana Co. (NYSE:CVNA) COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.35, for a total value of $10,517,500.00. Following the completion of the sale, the chief operating officer now directly owns 146,278 shares in the company, valued at approximately $30,769,577.30. The trade was a 25.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Carvana Price Performance

Shares of NYSE:CVNA opened at $205.12 on Thursday. 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 firm has a market cap of $43.72 billion, a price-to-earnings ratio of 130.65 and a beta of 3.56. The business has a 50-day simple moving average of $228.32 and a two-hundred day simple moving average of $216.50. Carvana Co. has a fifty-two week low of $67.61 and a fifty-two week high of $292.84.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. On average, analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Hedge Funds Weigh In On Carvana

A number of institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC boosted its position in Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after purchasing an additional 5,882,656 shares during the last quarter. Whale Rock Capital Management LLC bought a new position in shares of Carvana in the 3rd quarter worth approximately $162,953,000. Norges Bank purchased a new position in shares of Carvana in the fourth quarter worth approximately $179,364,000. Vanguard Group Inc. grew its position in Carvana by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock valued at $2,323,463,000 after buying an additional 610,234 shares during the period. Finally, Castle Hook Partners LP purchased a new stake in Carvana during the fourth quarter valued at approximately $116,020,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVNA has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $340.00 target price on shares of Carvana in a research report on Friday, March 7th. DA Davidson upped their price objective on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Evercore ISI decreased their target price on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research note on Tuesday, March 11th. JPMorgan Chase & Co. upped their price target on Carvana from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Finally, William Blair reaffirmed an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $263.88.

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.