Carvana (NYSE:CVNA) CFO Mark Jenkins Sells 63,750 Shares

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 63,750 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $70.40, for a total transaction of $4,488,000.00. Following the completion of the sale, the chief financial officer owned 1,036,594 shares in the company, valued at approximately $72,976,217.60. This trade represents a 5.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Price Performance

NYSE CVNA opened at $63.92 on Thursday. The stock’s 50-day moving average price is $70.24 and its two-hundred day moving average price is $75.05. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05. The company has a market cap of $70.11 billion, a PE ratio of 38.88, a PEG ratio of 11.07 and a beta of 3.45. Carvana Co. has a 1 year low of $54.46 and a 1 year high of $97.38.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.12 billion. On average, analysts predict that Carvana Co. will post 1.58 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CVNA. Bank of America upped their target price on shares of Carvana from $72.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, April 21st. Weiss Ratings cut shares of Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 24th. Jefferies Financial Group decreased their price objective on shares of Carvana from $97.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Robert W. Baird set a $88.00 price target on shares of Carvana in a report on Friday, May 15th. Finally, BNP Paribas Exane raised their price target on shares of Carvana from $77.60 to $85.80 in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Carvana currently has an average rating of “Moderate Buy” and a consensus target price of $93.14.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Ascentis Independent Advisors bought a new stake in Carvana in the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Carvana during the fourth quarter worth approximately $29,000. Farmers & Merchants Investments Inc. purchased a new stake in Carvana in the 4th quarter valued at $29,000. Annis Gardner Whiting Capital Advisors LLC raised its position in Carvana by 152.6% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after buying an additional 58 shares during the last quarter. Finally, Motiv8 Investments LLC purchased a new stake in Carvana in the 4th quarter valued at $33,000. Institutional investors own 56.71% of the company’s stock.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.