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

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 63,750 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $64.50, for a total transaction of $4,111,875.00. Following the completion of the transaction, the chief financial officer owned 1,156,534 shares of the company’s stock, valued at approximately $74,596,443. The trade was a 5.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Up 2.7%

Shares of NYSE CVNA traded up $1.78 during mid-day trading on Tuesday, reaching $67.91. The company had a trading volume of 7,785,858 shares, compared to its average volume of 14,964,482. The firm has a 50 day simple moving average of $66.81 and a two-hundred day simple moving average of $70.45. Carvana Co. has a 52-week low of $54.46 and a 52-week high of $97.38. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94. The stock has a market cap of $74.49 billion, a P/E ratio of 37.56, a PEG ratio of 2.30 and a beta of 3.46.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The firm had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the previous year, the company earned $1.51 earnings per share. Carvana’s quarterly revenue was up 52.4% compared to the same quarter last year. Sell-side analysts predict that Carvana Co. will post 1.65 earnings per share for the current year.

Institutional Investors Weigh In On Carvana

Several hedge funds have recently made changes to their positions in the business. Sands Capital Management LLC boosted its holdings in shares of Carvana by 44.4% in the 4th quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company’s stock valued at $1,030,798,000 after purchasing an additional 751,019 shares during the last quarter. Capricorn Fund Managers Ltd purchased a new position in shares of Carvana in the 1st quarter worth $29,866,000. Gavilan Investment Partners LLC raised its position in shares of Carvana by 24.6% in the 4th quarter. Gavilan Investment Partners LLC now owns 86,000 shares of the company’s stock worth $36,294,000 after buying an additional 17,000 shares during the period. Hsbc Holdings PLC boosted its holdings in Carvana by 239.6% in the fourth quarter. Hsbc Holdings PLC now owns 221,727 shares of the company’s stock valued at $93,748,000 after acquiring an additional 156,430 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in Carvana by 9.9% in the first quarter. Swiss National Bank now owns 395,180 shares of the company’s stock valued at $124,237,000 after acquiring an additional 35,720 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

CVNA has been the subject of several research reports. Morgan Stanley set a $90.00 target price on Carvana and gave the company an “overweight” rating in a report on Thursday, July 30th. BNP Paribas Exane cut their price target on Carvana from $86.00 to $69.00 and set a “hold” rating on the stock in a research report on Thursday, July 30th. Evercore set a $75.00 price target on Carvana in a research report on Thursday, July 30th. Citigroup reduced their price objective on Carvana from $93.00 to $90.00 and set a “buy” rating for the company in a research note on Friday. Finally, DA Davidson set a $67.00 target price on shares of Carvana in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.14.

Carvana Company Profile

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.