Carvana (NYSE:CVNA) CFO Mark Jenkins Sells 63,750 Shares of Stock

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 63,750 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $68.34, for a total transaction of $4,356,675.00. Following the transaction, the chief financial officer owned 1,029,580 shares of the company’s stock, valued at approximately $70,361,497.20. The trade was a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Performance

Carvana stock traded up $0.84 during mid-day trading on Thursday, reaching $68.71. The company had a trading volume of 8,379,061 shares, compared to its average volume of 15,753,974. The company has a quick ratio of 2.57, a current ratio of 4.09 and a debt-to-equity ratio of 1.05. The firm has a market cap of $75.36 billion, a price-to-earnings ratio of 41.80, a PEG ratio of 11.11 and a beta of 3.46. The company has a 50 day moving average of $70.44 and a 200-day moving average of $73.93. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.12 billion. On average, sell-side analysts expect that Carvana Co. will post 1.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Carvana

Institutional investors have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Carvana by 572.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,741 shares of the company’s stock worth $115,000 after buying an additional 1,482 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Carvana by 483.5% during the 2nd quarter. Versant Capital Management Inc now owns 2,480 shares of the company’s stock worth $163,000 after buying an additional 2,055 shares during the period. CX Institutional lifted its position in shares of Carvana by 1,326.4% during the 2nd quarter. CX Institutional now owns 3,409 shares of the company’s stock worth $224,000 after buying an additional 3,170 shares during the period. Parallel Advisors LLC boosted its stake in Carvana by 24.1% in the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock valued at $294,000 after buying an additional 181 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Carvana by 22.5% in the 1st quarter. NewEdge Advisors LLC now owns 22,356 shares of the company’s stock valued at $7,028,000 after buying an additional 4,106 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on CVNA shares. Stephens raised their price objective on Carvana from $86.00 to $97.00 in a research report on Thursday, April 30th. William Blair restated an “outperform” rating on shares of Carvana in a research report on Friday, March 13th. Barclays set a $93.00 target price on Carvana and gave the company an “overweight” rating in a research note on Thursday, May 14th. Evercore raised their target price on Carvana from $78.00 to $80.00 in a research report on Tuesday, April 28th. Finally, UBS Group reiterated a “buy” rating and set a $104.00 price target (up from $97.00) on shares of Carvana in a research note on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.14.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.