Mark W. Jenkins Sells 5,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $146.14, for a total transaction of $730,700.00. Following the sale, the chief financial officer now owns 180,609 shares of the company’s stock, valued at $26,394,199.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Carvana Stock Performance

Shares of NYSE CVNA traded down $9.32 during mid-day trading on Friday, hitting $137.20. 5,961,087 shares of the stock traded hands, compared to its average volume of 5,541,838. The stock has a fifty day moving average price of $119.99 and a 200-day moving average price of $91.51. The company has a market cap of $27.79 billion, a price-to-earnings ratio of 59.77 and a beta of 3.37. Carvana Co. has a 52 week low of $25.09 and a 52 week high of $154.00.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.35. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.72 billion. As a group, sell-side analysts predict that Carvana Co. will post -0.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Carvana

Several hedge funds have recently bought and sold shares of CVNA. Hemington Wealth Management purchased a new stake in shares of Carvana in the second quarter worth $219,000. Versor Investments LP grew its position in Carvana by 131.4% during the 2nd quarter. Versor Investments LP now owns 8,100 shares of the company’s stock valued at $1,043,000 after purchasing an additional 4,600 shares during the last quarter. CIBC Asset Management Inc increased its stake in Carvana by 22.3% during the 2nd quarter. CIBC Asset Management Inc now owns 3,251 shares of the company’s stock valued at $418,000 after purchasing an additional 593 shares in the last quarter. Convergence Investment Partners LLC bought a new position in shares of Carvana in the second quarter worth approximately $2,049,000. Finally, Natixis Advisors LLC purchased a new stake in shares of Carvana during the second quarter valued at approximately $10,147,000. Institutional investors own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. DA Davidson increased their target price on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday. BTIG Research raised their target price on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday. Robert W. Baird initiated coverage on shares of Carvana in a research note on Thursday. They issued a “neutral” rating and a $160.00 target price on the stock. Evercore ISI raised their price target on shares of Carvana from $135.00 to $140.00 and gave the stock an “in-line” rating in a report on Tuesday, July 16th. Finally, TD Cowen boosted their price objective on shares of Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $143.60.

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.