Carvana (NYSE:CVNA) CFO Mark Jenkins Sells 12,750 Shares

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 12,750 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $323.35, for a total transaction of $4,122,712.50. Following the transaction, the chief financial officer owned 206,142 shares in the company, valued at $66,656,015.70. This trade represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Carvana Trading Down 6.7%

NYSE CVNA opened at $309.91 on Wednesday. The company has a market capitalization of $66.69 billion, a price-to-earnings ratio of 70.76, a price-to-earnings-growth ratio of 1.20 and a beta of 3.50. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $413.33. The company’s fifty day moving average price is $360.77 and its two-hundred day moving average price is $333.43. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.The firm’s revenue for the quarter was up 54.5% on a year-over-year basis. During the same period last year, the company posted $0.64 earnings per share. As a group, research analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CVNA. Citigroup dropped their target price on shares of Carvana from $490.00 to $445.00 and set a “buy” rating on the stock in a report on Monday. Bank of America dropped their price objective on shares of Carvana from $405.00 to $385.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Wall Street Zen cut shares of Carvana from a “buy” rating to a “hold” rating in a report on Sunday, October 19th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Carvana in a report on Tuesday, October 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $500.00 price objective on shares of Carvana in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $415.50.

Hedge Funds Weigh In On Carvana

Several large investors have recently made changes to their positions in the business. Premier Path Wealth Partners LLC bought a new position in shares of Carvana during the 3rd quarter valued at about $242,000. Allianz Asset Management GmbH lifted its position in shares of Carvana by 181.5% in the third quarter. Allianz Asset Management GmbH now owns 54,096 shares of the company’s stock worth $20,407,000 after purchasing an additional 120,449 shares in the last quarter. Callan Family Office LLC lifted its position in shares of Carvana by 18.5% in the third quarter. Callan Family Office LLC now owns 2,567 shares of the company’s stock worth $968,000 after purchasing an additional 401 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Carvana by 30.3% in the third quarter. Jones Financial Companies Lllp now owns 4,098 shares of the company’s stock worth $1,514,000 after purchasing an additional 953 shares in the last quarter. Finally, Chung Wu Investment Group LLC bought a new position in Carvana during the third quarter valued at approximately $272,000. Institutional investors own 56.71% of the company’s stock.

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.