Carvana Co. (NYSE:CVNA) COO Sells $10,517,500.00 in Stock

Carvana Co. (NYSE:CVNA) COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.35, for a total transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Carvana Trading Down 7.5 %

CVNA traded down $16.54 during midday trading on Wednesday, reaching $205.12. 4,366,873 shares of the company were exchanged, compared to its average volume of 3,875,114. 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 stock has a market capitalization of $43.72 billion, a P/E ratio of 130.65 and a beta of 3.56. The stock’s 50-day simple moving average is $228.48 and its 200 day simple moving average is $216.58. Carvana Co. has a one year low of $67.61 and a one year 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. As a group, analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carvana

A number of large investors have recently modified their holdings of CVNA. Charles Schwab Investment Management Inc. lifted its stake in Carvana by 9.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company’s stock valued at $94,148,000 after acquiring an additional 39,089 shares during the last quarter. Plato Investment Management Ltd lifted its stake in Carvana by 135.5% in the 4th quarter. Plato Investment Management Ltd now owns 5,204 shares of the company’s stock valued at $1,062,000 after purchasing an additional 2,994 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Carvana by 37.7% during the fourth quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company’s stock worth $97,305,000 after purchasing an additional 130,942 shares during the period. Oak Thistle LLC increased its position in Carvana by 115.9% during the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock worth $658,000 after buying an additional 1,738 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Carvana by 33.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company’s stock valued at $77,807,000 after buying an additional 95,497 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVNA. Evercore ISI dropped their target price on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, March 11th. Citigroup increased their price objective on Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. DA Davidson upped their target price on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Wells Fargo & Company cut their price target on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $263.88.

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.