Insider Selling: Carvana Co. (NYSE:CVNA) COO Sells 18,000 Shares of Stock

Carvana Co. (NYSE:CVNA) COO Benjamin E. Huston sold 18,000 shares of the business’s stock in a transaction 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 $24,572,968.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Carvana Stock Up 4.4 %

NYSE:CVNA opened at $121.67 on Monday. Carvana Co. has a 52-week low of $6.92 and a 52-week high of $124.20. The stock’s 50 day moving average price is $81.81 and its 200 day moving average price is $56.03. The company has a market capitalization of $24.57 billion, a PE ratio of 53.36 and a beta of 3.28.

Carvana (NYSE:CVNA) last announced its earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the business posted ($0.97) EPS. The company’s revenue was down 14.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Carvana Co. will post -3.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CVNA. Blue Trust Inc. acquired a new stake in shares of Carvana during the fourth quarter worth about $29,000. Vanguard Group Inc. lifted its position in Carvana by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock worth $393,268,000 after acquiring an additional 62,820 shares during the period. Quantbot Technologies LP acquired a new stake in Carvana during the 3rd quarter worth approximately $2,879,000. Charles Schwab Investment Management Inc. grew its stake in shares of Carvana by 56.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock valued at $32,684,000 after purchasing an additional 280,851 shares during the last quarter. Finally, TD Asset Management Inc acquired a new position in shares of Carvana in the third quarter valued at approximately $22,906,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVNA. Needham & Company LLC reissued a “hold” rating on shares of Carvana in a research report on Thursday. Raymond James raised shares of Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. Royal Bank of Canada lifted their price objective on shares of Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Thursday. Wedbush raised their price target on Carvana from $80.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Robert W. Baird lifted their price target on Carvana from $65.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $73.44.

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.