Carvana Co. (NYSE:CVNA) COO Sells $730,320.00 in Stock

Carvana Co. (NYSE:CVNA) COO Benjamin E. Huston sold 3,043 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $240.00, for a total transaction of $730,320.00. Following the transaction, the chief operating officer now owns 218,686 shares in the company, valued at $52,484,640. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Carvana Stock Down 7.4 %

Carvana stock opened at $229.08 on Monday. The firm has a market capitalization of $47.41 billion, a PE ratio of 22,930.93 and a beta of 3.37. The company’s 50-day moving average is $174.33 and its 200-day moving average is $138.23. Carvana Co. has a fifty-two week low of $27.75 and a fifty-two week high of $259.39. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.02.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. The business’s quarterly revenue was up 31.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS. Sell-side analysts anticipate that Carvana Co. will post 0.26 earnings per share for the current year.

Hedge Funds Weigh In On Carvana

A number of institutional investors have recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC increased its position in Carvana by 124.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after acquiring an additional 323,153 shares during the period. Integrated Advisors Network LLC increased its position in Carvana by 89.2% in the 3rd quarter. Integrated Advisors Network LLC now owns 53,004 shares of the company’s stock valued at $9,229,000 after acquiring an additional 24,996 shares during the period. Highland Capital Management LLC acquired a new position in Carvana in the 3rd quarter valued at approximately $1,314,000. Legacy Capital Group California Inc. acquired a new position in Carvana in the 3rd quarter valued at approximately $1,248,000. Finally, Chicago Capital LLC acquired a new position in Carvana in the 3rd quarter valued at approximately $940,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JMP Securities increased their price objective on shares of Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a report on Thursday. Morgan Stanley increased their price objective on shares of Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Citigroup increased their price objective on shares of Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Stephens started coverage on shares of Carvana in a report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price objective on the stock. Finally, TD Cowen increased their target price on shares of Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $208.88.

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.