Insider Selling: Carvana Co. (NYSE:CVNA) COO Sells 50,000 Shares of Stock

Carvana Co. (NYSE:CVNA) COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the sale, the chief operating officer now owns 196,278 shares in the company, valued at approximately $35,033,660.22. This trade represents a 20.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Carvana Trading Up 2.8 %

NYSE:CVNA opened at $186.28 on Tuesday. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The business’s 50 day moving average is $228.89 and its two-hundred day moving average is $214.54. The company has a market cap of $39.71 billion, a PE ratio of 118.65 and a beta of 3.56. Carvana Co. has a 52 week low of $67.61 and a 52 week high of $292.84.

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

Hedge Funds Weigh In On Carvana

Several hedge funds have recently modified their holdings of CVNA. Quent Capital LLC acquired a new position in shares of Carvana in the 4th quarter worth $28,000. Global Retirement Partners LLC lifted its position in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after buying an additional 78 shares during the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of Carvana in the fourth quarter worth about $31,000. ORG Wealth Partners LLC acquired a new position in shares of Carvana during the 4th quarter worth about $34,000. Finally, Versant Capital Management Inc acquired a new position in shares of Carvana during the 4th quarter worth about $42,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on CVNA shares. Royal Bank of Canada boosted their target price on Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Wells Fargo & Company dropped their target price on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Stephens reiterated an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. JMP Securities restated a “market outperform” rating and set a $320.00 price target on shares of Carvana in a research note on Monday, December 16th. Finally, Evercore ISI decreased their target price on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, March 11th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Carvana currently has an average rating of “Moderate Buy” and a consensus price target of $262.71.

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.