Insider Selling: Carvana Co. (NYSE:CVNA) CFO Sells 43,433 Shares of Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 43,433 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $209.27, for a total value of $9,089,223.91. Following the completion of the transaction, the chief financial officer now owns 214,678 shares of the company’s stock, valued at approximately $44,925,665.06. The trade was a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Carvana Stock Up 6.3 %

CVNA traded up $13.48 during trading hours on Wednesday, reaching $226.07. 4,625,171 shares of the stock traded hands, compared to its average volume of 3,922,458. Carvana Co. has a fifty-two week low of $67.61 and a fifty-two week high of $292.84. The company has a market cap of $48.19 billion, a price-to-earnings ratio of 143.99 and a beta of 3.56. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The firm’s fifty day simple moving average is $226.42 and its two-hundred day simple moving average is $219.06.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. As a group, analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVNA. Cerity Partners LLC boosted its stake in Carvana by 112.8% during the 3rd quarter. Cerity Partners LLC now owns 4,215 shares of the company’s stock valued at $734,000 after purchasing an additional 2,234 shares during the period. Townsquare Capital LLC bought a new position in Carvana in the 3rd quarter worth approximately $282,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Carvana by 13.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,140 shares of the company’s stock valued at $3,332,000 after acquiring an additional 2,243 shares during the period. Rockefeller Capital Management L.P. bought a new stake in Carvana during the 3rd quarter valued at $1,772,000. Finally, Captrust Financial Advisors bought a new stake in Carvana during the 3rd quarter valued at $270,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analysts Set New Price Targets

CVNA has been the subject of several recent research reports. Robert W. Baird lifted their price target on Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Wedbush set a $250.00 price objective on shares of Carvana and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Evercore ISI decreased their target price on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research note on Tuesday, March 11th. Stephens reissued an “overweight” rating and set a $300.00 price target on shares of Carvana in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.53.

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.