Carvana Co. (NYSE:CVNA) COO Benjamin E. Huston Sells 18,000 Shares

Carvana Co. (NYSE:CVNA) COO Benjamin E. Huston sold 18,000 shares of Carvana stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $115.07, for a total transaction of $2,071,260.00. Following the sale, the chief operating officer now directly owns 213,548 shares in the company, valued at approximately $24,572,968.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Carvana Stock Up 4.5 %

Shares of NYSE:CVNA traded up $5.22 during trading on Friday, hitting $121.72. 8,523,599 shares of the company traded hands, compared to its average volume of 6,314,580. The stock has a market capitalization of $24.58 billion, a price-to-earnings ratio of 53.39 and a beta of 3.28. Carvana Co. has a one year low of $6.92 and a one year high of $124.20. The business’s fifty day moving average is $80.75 and its 200-day moving average is $55.27.

Carvana (NYSE:CVNA) last issued its earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Carvana’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.97) earnings per share. On average, analysts forecast that Carvana Co. will post -3.32 EPS for the current year.

Institutional Trading of Carvana

A number of large investors have recently modified their holdings of the company. Morgan Stanley boosted its stake in Carvana by 13.8% during the 3rd quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock valued at $619,478,000 after purchasing an additional 1,784,009 shares during the period. Vanguard Group Inc. raised its holdings in shares of Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after buying an additional 655,603 shares during the last quarter. TD Asset Management Inc acquired a new position in shares of Carvana during the third quarter worth approximately $22,906,000. UBS Group AG boosted its position in shares of Carvana by 132.6% during the third quarter. UBS Group AG now owns 81,620 shares of the company’s stock worth $3,426,000 after buying an additional 331,892 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Carvana by 56.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock worth $32,684,000 after buying an additional 280,851 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

CVNA has been the subject of several recent analyst reports. TD Cowen raised their target price on Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research note on Monday. William Blair restated an “outperform” rating on shares of Carvana in a report on Thursday. Jefferies Financial Group raised shares of Carvana from an “underperform” rating to a “hold” rating and raised their price target for the stock from $30.00 to $85.00 in a research report on Tuesday, March 12th. Evercore ISI cut their price target on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Finally, Royal Bank of Canada increased their price objective on shares of Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $73.44.

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.