Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins Sells 10,000 Shares

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total value of $2,007,500.00. Following the transaction, the chief financial officer now owns 189,097 shares of the company’s stock, valued at $37,961,222.75. This represents a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Carvana Stock Down 11.2 %

Shares of NYSE:CVNA traded down $22.40 on Friday, reaching $177.16. The company had a trading volume of 11,671,706 shares, compared to its average volume of 10,560,553. Carvana Co. has a 52-week low of $40.21 and a 52-week high of $268.34. The firm’s 50 day simple moving average is $237.18 and its 200-day simple moving average is $179.97. The firm has a market capitalization of $36.78 billion, a PE ratio of 17,733.73 and a beta of 3.32. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the business posted $0.23 earnings per share. The firm’s quarterly revenue was up 31.8% on a year-over-year basis. As a group, analysts expect that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

Institutional Trading of Carvana

A number of institutional investors have recently made changes to their positions in the business. Forum Financial Management LP grew its position in Carvana by 3.8% during the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after purchasing an additional 76 shares during the last quarter. Empirical Asset Management LLC grew its stake in Carvana by 2.0% during the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock valued at $890,000 after purchasing an additional 100 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Carvana by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,366 shares of the company’s stock valued at $586,000 after purchasing an additional 115 shares during the period. MML Investors Services LLC raised its stake in shares of Carvana by 3.0% in the third quarter. MML Investors Services LLC now owns 4,172 shares of the company’s stock worth $726,000 after purchasing an additional 122 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Carvana by 6.0% during the third quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock worth $402,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CVNA shares. Piper Sandler increased their price target on shares of Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Wedbush upped their price target on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Bank of America raised their price objective on shares of Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird increased their price target on Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Evercore ISI boosted their price objective on Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a report on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Carvana currently has an average rating of “Hold” and a consensus price target of $229.18.

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.