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

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 63,750 shares of Carvana stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $71.78, for a total value of $4,575,975.00. Following the completion of the transaction, the chief financial officer directly 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Trading Down 0.9%

Shares of NYSE:CVNA traded down $0.62 during midday trading on Tuesday, reaching $71.38. The company’s stock had a trading volume of 9,959,162 shares, compared to its average volume of 13,071,145. Carvana Co. has a fifty-two week low of $54.46 and a fifty-two week high of $97.38. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. The firm has a 50 day moving average price of $65.83 and a two-hundred day moving average price of $69.31. The firm has a market capitalization of $78.55 billion, a price-to-earnings ratio of 35.84, a PEG ratio of 1.75 and a beta of 3.55.

Carvana (NYSE:CVNA) last released its earnings results 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 return on equity of 36.63% and a net margin of 6.21%. The business had revenue of $8.04 billion for the quarter, compared to analyst estimates of $7.71 billion. During the same period in the prior year, the business earned $1.03 EPS. The company’s revenue for the quarter was up 42.4% on a year-over-year basis. As a group, analysts forecast that Carvana Co. will post 1.59 earnings per share for the current year.

Institutional Trading of Carvana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in Carvana by 417.1% in the second quarter. State Street Corp now owns 29,435,364 shares of the company’s stock worth $1,937,436,000 after acquiring an additional 23,742,422 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Carvana by 345.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company’s stock valued at $218,867,000 after acquiring an additional 2,579,295 shares during the period. Amundi increased its holdings in shares of Carvana by 379.7% during the second quarter. Amundi now owns 2,421,045 shares of the company’s stock valued at $159,353,000 after acquiring an additional 1,916,349 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Carvana by 384.3% during the second quarter. The Manufacturers Life Insurance Company now owns 1,898,095 shares of the company’s stock valued at $124,933,000 after acquiring an additional 1,506,145 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Carvana by 372.0% during the second quarter. Bank of America Corp DE now owns 1,791,844 shares of the company’s stock valued at $117,939,000 after acquiring an additional 1,412,188 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CVNA has been the topic of a number of research analyst reports. BNP Paribas Exane cut their price target on Carvana from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, October 29th. Morgan Stanley reiterated an “overweight” rating on shares of Carvana in a research note on Thursday, October 29th. Royal Bank Of Canada set a $82.00 price objective on shares of Carvana and gave the company an “outperform” rating in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $85.00 target price on shares of Carvana in a research report on Thursday, October 29th. Finally, Barclays increased their target price on shares of Carvana from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.