Carvana Co. (NYSE:CVNA) CFO Sells $14,925,936.35 in Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 37,687 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $396.05, for a total value of $14,925,936.35. Following the completion of the sale, the chief financial officer directly owned 191,020 shares of the company’s stock, valued at approximately $75,653,471. This trade represents a 16.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Carvana Price Performance

Shares of NYSE CVNA opened at $360.79 on Tuesday. The stock has a fifty day simple moving average of $334.70 and a two-hundred day simple moving average of $268.97. Carvana Co. has a 1-year low of $118.50 and a 1-year high of $413.33. The firm has a market cap of $77.26 billion, a price-to-earnings ratio of 90.42, a price-to-earnings-growth ratio of 1.25 and a beta of 3.57. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51.

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

Hedge Funds Weigh In On Carvana

Large investors have recently made changes to their positions in the stock. Hilltop National Bank bought a new position in shares of Carvana in the second quarter worth $25,000. Brooklyn Investment Group boosted its holdings in shares of Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after acquiring an additional 125 shares during the period. N.E.W. Advisory Services LLC bought a new position in shares of Carvana in the first quarter worth $33,000. SJS Investment Consulting Inc. boosted its holdings in shares of Carvana by 960.0% in the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 96 shares during the period. Finally, LRI Investments LLC bought a new position in shares of Carvana in the second quarter worth $42,000. 56.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on CVNA. William Blair reissued an “outperform” rating on shares of Carvana in a research note on Wednesday, July 23rd. DA Davidson increased their price target on Carvana from $260.00 to $380.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Wall Street Zen upgraded Carvana from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. Wells Fargo & Company lifted their price target on Carvana from $390.00 to $425.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Morgan Stanley lifted their price target on Carvana from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Carvana currently has an average rating of “Moderate Buy” and a consensus price target of $379.65.

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.