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 the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $115.07, for a total value of $2,071,260.00. Following the transaction, the chief operating officer now directly owns 213,548 shares of the company’s stock, valued at approximately $24,572,968.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Carvana Stock Performance

CVNA opened at $121.67 on Friday. The firm has a market cap of $24.57 billion, a P/E ratio of 53.36 and a beta of 3.28. Carvana Co. has a 52-week low of $6.92 and a 52-week high of $124.20. The business’s fifty day moving average is $81.81 and its 200-day moving average is $55.88.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVNA. Jefferies Financial Group upgraded Carvana from an “underperform” rating to a “hold” rating and increased their price target for the company from $30.00 to $85.00 in a research note on Tuesday, March 12th. Wedbush increased their price target on Carvana from $80.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday. Raymond James upgraded Carvana from an “underperform” rating to a “market perform” rating in a research note on Friday, February 23rd. Wells Fargo & Company increased their price target on Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised Carvana from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $70.00 to $130.00 in a report on Thursday. One research 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. According to MarketBeat, Carvana has an average rating of “Hold” and an average target price of $73.44.

Institutional Trading of Carvana

Large investors have recently modified their holdings of the stock. Blue Trust Inc. acquired a new stake in shares of Carvana during the 4th quarter worth $29,000. Hanseatic Management Services Inc. acquired a new stake in Carvana in the third quarter valued at about $34,000. Parallel Advisors LLC boosted its stake in Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after buying an additional 194 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Carvana by 1,225.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock valued at $50,000 after buying an additional 1,103 shares in the last quarter. Finally, Tidemark LLC acquired a new stake in Carvana in the fourth quarter valued at about $50,000. 56.71% of the stock is owned by institutional investors and hedge funds.

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.