Insider Selling: Carvana Co. (NYSE:CVNA) CFO Sells 43,433 Shares of Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 43,433 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $209.27, for a total value of $9,089,223.91. Following the completion of the sale, the chief financial officer now directly owns 214,678 shares of the company’s stock, valued at $44,925,665.06. The trade was a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Carvana Trading Down 10.6 %

Shares of CVNA opened at $162.54 on Friday. Carvana Co. has a twelve month low of $67.61 and a twelve month high of $292.84. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The firm has a market capitalization of $34.65 billion, a P/E ratio of 103.53 and a beta of 3.61. The firm’s 50-day moving average is $223.47 and its two-hundred day moving average is $218.92.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. On average, research analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CVNA. William Blair reiterated an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. Stephens restated an “overweight” rating and issued a $300.00 price target on shares of Carvana in a research report on Monday, March 3rd. JPMorgan Chase & Co. decreased their price objective on Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Citigroup boosted their target price on Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Piper Sandler raised Carvana from a “neutral” rating to an “overweight” rating in a report on Monday. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and an average target price of $258.59.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CVNA. Fidelis Capital Partners LLC increased its holdings in Carvana by 3.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock valued at $313,000 after acquiring an additional 51 shares in the last quarter. Bleakley Financial Group LLC grew its position in shares of Carvana by 2.8% in the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock valued at $483,000 after purchasing an additional 65 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Carvana by 21.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after purchasing an additional 74 shares in the last quarter. Great Lakes Advisors LLC raised its position in shares of Carvana by 2.1% during the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock worth $752,000 after purchasing an additional 77 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its stake in Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.