Carvana (NYSE:CVNA) CFO Sells $3,929,550.00 in Stock

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 63,750 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $61.64, for a total transaction of $3,929,550.00. Following the completion of the transaction, the chief financial officer owned 1,142,502 shares in the company, valued at approximately $70,423,823.28. This represents a 5.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Performance

NYSE:CVNA opened at $62.73 on Thursday. 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 stock has a market capitalization of $69.03 billion, a P/E ratio of 34.70, a PEG ratio of 1.84 and a beta of 3.55. The company has a 50 day moving average price of $68.89 and a 200 day moving average price of $68.54. Carvana Co. has a fifty-two week low of $54.46 and a fifty-two week high of $97.38.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.38 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the previous year, the company earned $1.51 earnings per share. The firm’s quarterly revenue was up 52.4% compared to the same quarter last year. Equities research analysts forecast that Carvana Co. will post 1.67 EPS for the current year.

Institutional Investors Weigh In On Carvana

Several large investors have recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB raised its position in Carvana by 12.0% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,950 shares of the company’s stock valued at $122,000 after purchasing an additional 209 shares in the last quarter. CX Institutional increased its stake in shares of Carvana by 24.6% during the third quarter. CX Institutional now owns 4,246 shares of the company’s stock worth $266,000 after buying an additional 837 shares during the period. Versant Capital Management Inc raised its holdings in Carvana by 7.3% in the third quarter. Versant Capital Management Inc now owns 2,660 shares of the company’s stock valued at $166,000 after acquiring an additional 180 shares in the last quarter. QRG Capital Management Inc. lifted its stake in Carvana by 490.1% in the second quarter. QRG Capital Management Inc. now owns 68,545 shares of the company’s stock worth $4,512,000 after acquiring an additional 56,930 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Carvana by 422.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 472,281 shares of the company’s stock worth $31,086,000 after acquiring an additional 381,808 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CVNA. Barclays reiterated an “overweight” rating and issued a $80.00 price objective (down from $93.00) on shares of Carvana in a report on Tuesday. Wells Fargo & Company set a $80.00 price target on shares of Carvana and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Citizens Jmp lowered their price objective on shares of Carvana from $103.00 to $83.00 and set a “market outperform” rating for the company in a research note on Thursday, July 30th. Robert W. Baird set a $72.00 price objective on shares of Carvana in a report on Thursday, July 30th. Finally, Evercore set a $75.00 target price on shares of Carvana in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and a consensus price target of $83.13.

Carvana Company Profile

Carvana Co is an online used-car retailer that enables customers to research, purchase, finance, trade in and sell vehicles through its digital platform. The company’s services are designed to allow customers to complete much of the vehicle-buying process online, including selecting a vehicle, arranging financing, completing documentation and scheduling delivery or pickup.

Carvana offers a broad selection of used cars, trucks and sport utility vehicles. Its platform includes vehicle listings with photographs and inspection information, while its operations support vehicle reconditioning, logistics and customer delivery.