Carvana (NYSE:CVNA) CFO Mark Jenkins Sells 63,750 Shares of Stock

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 63,750 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $68.34, for a total transaction of $4,356,675.00. Following the completion of the transaction, the chief financial officer owned 1,029,580 shares in the company, valued at approximately $70,361,497.20. The trade was a 5.83% decrease in their position. 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 Stock Performance

Shares of CVNA stock opened at $68.71 on Friday. The company has a market capitalization of $75.36 billion, a price-to-earnings ratio of 41.80, a price-to-earnings-growth ratio of 11.45 and a beta of 3.46. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The company’s 50-day moving average is $70.44 and its 200 day moving average is $73.93.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $1.37. The business had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Carvana had a net margin of 6.40% and a return on equity of 41.46%. Sell-side analysts expect that Carvana Co. will post 1.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Carvana

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVNA. Price T Rowe Associates Inc. MD raised its stake in Carvana by 8.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock valued at $7,481,081,000 after buying an additional 1,407,762 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Carvana by 24.7% in the 4th quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock worth $7,082,804,000 after buying an additional 3,328,115 shares during the last quarter. State Street Corp boosted its stake in shares of Carvana by 93.7% in the 4th quarter. State Street Corp now owns 5,714,779 shares of the company’s stock worth $2,411,751,000 after buying an additional 2,764,759 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Carvana by 42.9% in the fourth quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock worth $2,405,959,000 after acquiring an additional 1,711,144 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Carvana by 55.4% in the fourth quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock worth $1,632,763,000 after acquiring an additional 1,382,852 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company upped their price objective on Carvana from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Gordon Haskett lifted their target price on Carvana from $67.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. boosted their price target on Carvana from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Evercore upped their price target on Carvana from $78.00 to $80.00 in a report on Tuesday, April 28th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $107.40 price objective on shares of Carvana in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.14.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.