Carvana Co. (NYSE:CVNA) CFO Sells $7,000,000.00 in Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 20,000 shares of Carvana stock in a transaction on Friday, June 6th. The stock was sold at an average price of $350.00, for a total transaction of $7,000,000.00. Following the sale, the chief financial officer now directly owns 192,239 shares in the company, valued at approximately $67,283,650. This trade represents a 9.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Carvana Stock Down 0.3%

Shares of CVNA stock traded down $1.06 during trading hours on Monday, reaching $340.40. 3,360,206 shares of the stock were exchanged, compared to its average volume of 3,949,117. The firm has a market capitalization of $72.89 billion, a P/E ratio of 216.82 and a beta of 3.65. Carvana Co. has a 12-month low of $100.05 and a 12-month high of $351.43. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The business’s fifty day moving average is $258.50 and its two-hundred day moving average is $238.41.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.75 by $0.76. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm’s revenue was up 38.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 earnings per share. As a group, research analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CVNA. Citigroup lifted their target price on shares of Carvana from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Royal Bank of Canada lifted their target price on shares of Carvana from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. William Blair reissued an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. DA Davidson boosted their price target on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.65.

Hedge Funds Weigh In On Carvana

Several hedge funds have recently added to or reduced their stakes in CVNA. abrdn plc purchased a new position in shares of Carvana during the fourth quarter worth approximately $294,000. Yousif Capital Management LLC purchased a new position in shares of Carvana during the fourth quarter worth approximately $247,000. Bleakley Financial Group LLC grew its position in shares of Carvana by 2.8% during the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock worth $483,000 after acquiring an additional 65 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Carvana by 8,600.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 219,256 shares of the company’s stock worth $44,588,000 after acquiring an additional 216,736 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Carvana during the fourth quarter worth approximately $2,091,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

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.