Carvana (NYSE:CVNA) CFO Mark Jenkins Sells 12,750 Shares of Stock

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 12,750 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $389.27, for a total transaction of $4,963,192.50. Following the completion of the transaction, the chief financial officer owned 207,362 shares of the company’s stock, valued at approximately $80,719,805.74. This trade represents a 5.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Carvana Stock Performance

NYSE:CVNA opened at $394.49 on Friday. The company has a fifty day simple moving average of $363.74 and a two-hundred day simple moving average of $307.57. The company has a market cap of $84.89 billion, a price-to-earnings ratio of 98.87, a price-to-earnings-growth ratio of 1.30 and a beta of 3.55. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.09 by $0.19. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The company’s quarterly revenue was up 41.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. As a group, equities analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carvana

Institutional investors and hedge funds have recently made changes to their positions in the business. Hilltop National Bank purchased a new stake in shares of Carvana in the second quarter valued at about $25,000. Brooklyn Investment Group increased its stake in shares of Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after acquiring an additional 125 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of Carvana during the first quarter worth about $33,000. SJS Investment Consulting Inc. increased its stake in shares of Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 96 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Carvana during the second quarter worth about $38,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVNA has been the subject of several research reports. Oppenheimer upgraded shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price target for the company in a research note on Friday, July 25th. Gordon Haskett began coverage on shares of Carvana in a research report on Monday, July 14th. They set a “hold” rating and a $329.00 price objective for the company. Jefferies Financial Group set a $475.00 price objective on shares of Carvana in a research report on Wednesday. Royal Bank Of Canada lifted their price objective on shares of Carvana from $400.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Finally, Piper Sandler lifted their price objective on shares of Carvana from $340.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $404.94.

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.