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

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 12,750 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were 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 $80,719,805.74. This trade represents a 5.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Carvana Trading Down 4.6%

Carvana stock opened at $376.56 on Friday. The firm has a 50 day simple moving average of $364.64 and a 200-day simple moving average of $309.94. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. The stock has a market capitalization of $81.04 billion, a PE ratio of 94.38, a price-to-earnings-growth ratio of 1.23 and a beta of 3.55. Carvana Co. has a 12-month low of $148.25 and a 12-month high of $413.33.

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

Wall Street Analysts Forecast Growth

CVNA has been the subject of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Carvana in a report on Saturday, September 27th. Oppenheimer upgraded shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price objective on the stock in a research report on Friday, July 25th. Needham & Company LLC lifted their price objective on shares of Carvana from $340.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Wall Street Zen lowered shares of Carvana from a “buy” rating to a “hold” rating in a research note on Friday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Carvana from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, September 17th. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $404.94.

Institutional Trading of Carvana

Several hedge funds and other institutional investors have recently bought and sold shares of CVNA. Price T Rowe Associates Inc. MD grew its position in Carvana by 13.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after purchasing an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. grew its position in Carvana by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after purchasing an additional 1,109,476 shares during the last quarter. Sands Capital Management LLC grew its position in Carvana by 1,374.3% in the 2nd quarter. Sands Capital Management LLC now owns 901,227 shares of the company’s stock worth $303,677,000 after purchasing an additional 840,096 shares during the last quarter. Norges Bank acquired a new stake in Carvana in the 2nd quarter worth $259,468,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Carvana in the 2nd quarter worth $193,091,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.