Insider Selling: Carvana (NYSE:CVNA) CFO Sells $4,575,975.00 in Stock

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 63,750 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $71.78, for a total transaction of $4,575,975.00. Following the completion of the sale, the chief financial officer owned 1,135,486 shares of the company’s stock, valued at approximately $81,505,185.08. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Price Performance

NYSE CVNA opened at $72.18 on Friday. The firm’s fifty day simple moving average is $65.82 and its two-hundred day simple moving average is $69.03. The firm has a market capitalization of $79.44 billion, a P/E ratio of 38.94, a P/E/G ratio of 1.99 and a beta of 3.66. The company has a current ratio of 4.05, a quick ratio of 2.43 and a debt-to-equity ratio of 0.86. Carvana Co. has a 12-month low of $54.46 and a 12-month high of $97.38.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.05). Carvana had a net margin of 6.21% and a return on equity of 34.77%. The business had revenue of $8.04 billion for the quarter, compared to analysts’ expectations of $7.71 billion. During the same quarter in the prior year, the company posted $1.03 EPS. The business’s revenue for the quarter was up 42.4% on a year-over-year basis. Analysts forecast that Carvana Co. will post 1.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ascentis Independent Advisors purchased a new stake in shares of Carvana during the first quarter valued at $26,000. Annis Gardner Whiting Capital Advisors LLC raised its stake in Carvana by 152.6% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after acquiring an additional 58 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in Carvana in the 1st quarter worth $36,000. Leonteq Securities AG raised its stake in Carvana by 106.8% in the 1st quarter. Leonteq Securities AG now owns 122 shares of the company’s stock worth $38,000 after acquiring an additional 1,912 shares during the last quarter. Finally, Root Financial Partners LLC lifted its position in Carvana by 114.1% during the 1st quarter. Root Financial Partners LLC now owns 289 shares of the company’s stock worth $91,000 after acquiring an additional 154 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVNA. Royal Bank Of Canada set a $82.00 target price on Carvana and gave the company an “outperform” rating in a research report on Thursday, July 30th. Bank of America reissued a “neutral” rating on shares of Carvana in a report on Thursday, October 29th. Weiss Ratings downgraded Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 22nd. Hovde Group boosted their price target on Carvana from $39.50 to $48.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 4th. Finally, Needham & Company LLC cut their price objective on shares of Carvana from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.09.

Carvana Company Profile

Carvana Co (NYSE: CVNA) is an online automotive retailer that sells used vehicles through its digital platform. Customers can browse vehicles, review detailed descriptions and vehicle history information, arrange financing, complete transactions online and choose home delivery or pickup at a Carvana location.

The company also provides vehicle trade-in services and offers related products, including vehicle protection plans and other automotive services. Carvana is known for its automated, glass-enclosed vehicle vending machines, which provide an alternative pickup experience in select markets.

Founded in 2012 and headquartered in Tempe, Arizona, Carvana began operations as an online used-car retailer in 2013 and went public in 2017.