Insider Selling: Carvana (NYSE:CVNA) CFO Sells 12,750 Shares of Stock

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 12,750 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $389.27, for a total transaction of $4,963,192.50. Following the transaction, the chief financial officer owned 207,362 shares in the company, valued at approximately $80,719,805.74. This trade represents a 5.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Carvana Trading Down 0.2%

Shares of Carvana stock opened at $394.49 on Friday. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $413.33. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. The company’s 50-day simple moving average is $363.74 and its 200-day simple moving average is $307.57. The firm has a market cap of $84.89 billion, a price-to-earnings ratio of 98.87, a price-to-earnings-growth ratio of 1.30 and a beta of 3.55.

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

Analysts Set New Price Targets

CVNA has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Carvana from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. William Blair restated an “outperform” rating on shares of Carvana in a research report on Wednesday, July 23rd. JMP Securities upped their target price on shares of Carvana from $440.00 to $460.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 31st. Wells Fargo & Company upped their target price on shares of Carvana from $390.00 to $425.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Finally, Oppenheimer raised shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price target on the stock in a report on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $404.94.

Institutional Investors Weigh In On Carvana

Large investors have recently added to or reduced their stakes in the company. Hilltop National Bank acquired a new stake in Carvana during the 2nd quarter valued at $25,000. Brooklyn Investment Group grew its holdings in Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after purchasing an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Carvana during the 1st quarter valued at $33,000. SJS Investment Consulting Inc. grew its holdings in Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 96 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Carvana during the 2nd quarter valued at $38,000. 56.71% of the stock is 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.