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

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 63,750 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total transaction of $4,561,312.50. Following the completion of the transaction, the chief financial officer directly owned 1,149,518 shares in the company, valued at approximately $82,248,012.90. The trade was a 5.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Price Performance

NYSE:CVNA opened at $73.21 on Friday. Carvana Co. has a 52-week low of $54.46 and a 52-week high of $97.38. The stock has a fifty day moving average of $68.65 and a 200 day moving average of $68.27. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. The firm has a market capitalization of $80.56 billion, a price-to-earnings ratio of 40.49, a P/E/G ratio of 2.17 and a beta of 3.49.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The business had revenue of $7.38 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same period in the prior year, the company earned $1.51 EPS. The company’s quarterly revenue was up 52.4% compared to the same quarter last year. On average, research analysts expect that Carvana Co. will post 1.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. DA Davidson set a $67.00 target price on shares of Carvana in a research report on Thursday, July 30th. Jefferies Financial Group lowered their price objective on shares of Carvana from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. Barclays cut their price objective on Carvana from $94.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, July 31st. BTIG Research reissued a “buy” rating and set a $87.00 price objective on shares of Carvana in a report on Tuesday, August 18th. Finally, Robert W. Baird set a $72.00 target price on Carvana in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned 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 $84.14.

Institutional Trading of Carvana

Several hedge funds have recently added to or reduced their stakes in CVNA. Sands Capital Management LLC increased its holdings in shares of Carvana by 44.4% during the fourth quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company’s stock valued at $1,030,798,000 after acquiring an additional 751,019 shares in the last quarter. Capricorn Fund Managers Ltd bought a new position in Carvana in the 1st quarter worth about $29,866,000. Gavilan Investment Partners LLC grew its position in Carvana by 24.6% during the 4th quarter. Gavilan Investment Partners LLC now owns 86,000 shares of the company’s stock valued at $36,294,000 after purchasing an additional 17,000 shares during the last quarter. Hsbc Holdings PLC grew its position in Carvana by 239.6% during the 4th quarter. Hsbc Holdings PLC now owns 221,727 shares of the company’s stock valued at $93,748,000 after purchasing an additional 156,430 shares during the last quarter. Finally, Swiss National Bank increased its stake in Carvana by 9.9% during the 1st quarter. Swiss National Bank now owns 395,180 shares of the company’s stock valued at $124,237,000 after purchasing an additional 35,720 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

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.