Mark W. Jenkins Sells 20,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $300.00, for a total transaction of $6,000,000.00. Following the transaction, the chief financial officer now owns 193,459 shares of the company’s stock, valued at $58,037,700. This represents a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Carvana Stock Up 0.8%

CVNA stock opened at $299.68 on Monday. The stock has a market capitalization of $64.17 billion, a P/E ratio of 190.88 and a beta of 3.61. The firm has a 50-day simple moving average of $220.71 and a 200-day simple moving average of $230.22. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. Carvana Co. has a 52 week low of $97.55 and a 52 week high of $311.88.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.76. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company’s quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.23 earnings per share. Equities analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Institutional Trading of Carvana

Several large investors have recently bought and sold shares of CVNA. Oak Thistle LLC grew its stake in Carvana by 115.9% during the 4th quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock valued at $658,000 after acquiring an additional 1,738 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Carvana by 33.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company’s stock valued at $77,807,000 after acquiring an additional 95,497 shares in the last quarter. Avanza Fonder AB purchased a new stake in Carvana during the 4th quarter valued at about $2,373,000. Atomi Financial Group Inc. grew its stake in Carvana by 9.1% during the 4th quarter. Atomi Financial Group Inc. now owns 1,805 shares of the company’s stock valued at $367,000 after acquiring an additional 151 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Carvana by 0.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 27,817 shares of the company’s stock valued at $5,657,000 after acquiring an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

CVNA has been the subject of a number of research reports. Bank of America boosted their target price on shares of Carvana from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Royal Bank of Canada upped their price objective on shares of Carvana from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Morgan Stanley upped their price objective on shares of Carvana from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday. JMP Securities decreased their price objective on shares of Carvana from $340.00 to $275.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 9th. Finally, Wells Fargo & Company upped their price objective on shares of Carvana from $290.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $269.18.

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.