Insider Selling: Carvana Co. (NYSE:CVNA) CFO Sells $4,712,950.00 in Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 55,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $85.69, for a total transaction of $4,712,950.00. Following the transaction, the chief financial officer now owns 216,523 shares in the company, valued at approximately $18,553,855.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Carvana Stock Performance

NYSE:CVNA opened at $121.67 on Monday. The firm has a 50-day simple moving average of $81.81 and a 200-day simple moving average of $56.03. Carvana Co. has a one year low of $6.92 and a one year high of $124.20. The firm has a market cap of $24.57 billion, a P/E ratio of 53.36 and a beta of 3.28.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.56 billion. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period last year, the business earned ($0.97) earnings per share. On average, research analysts predict that Carvana Co. will post -3.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CVNA has been the topic of several analyst reports. JMP Securities upped their price target on shares of Carvana from $80.00 to $135.00 and gave the company a “market outperform” rating in a report on Friday. Robert W. Baird upped their target price on Carvana from $65.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday. Wells Fargo & Company raised their price target on Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Thursday. Morgan Stanley upped their price objective on Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, February 26th. Finally, Royal Bank of Canada lifted their target price on Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Carvana presently has an average rating of “Hold” and an average price target of $73.44.

Institutional Investors Weigh In On Carvana

A number of hedge funds have recently made changes to their positions in the stock. Morgan Stanley raised its holdings in Carvana by 13.8% in the third quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock worth $619,478,000 after purchasing an additional 1,784,009 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Carvana by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after acquiring an additional 655,603 shares in the last quarter. TD Asset Management Inc purchased a new stake in Carvana during the third quarter valued at approximately $22,906,000. UBS Group AG boosted its stake in Carvana by 132.6% in the third quarter. UBS Group AG now owns 81,620 shares of the company’s stock valued at $3,426,000 after acquiring an additional 331,892 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Carvana by 56.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock worth $32,684,000 after purchasing an additional 280,851 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

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.