Carvana Co. (NYSE:CVNA) CFO Sells $8,209,694.70 in Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 28,422 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total value of $8,209,694.70. Following the transaction, the chief financial officer now owns 219,962 shares of the company’s stock, valued at $63,536,023.70. This represents a 11.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Carvana Trading Down 12.0 %

Shares of CVNA stock opened at $248.03 on Friday. The stock has a 50-day simple moving average of $234.85 and a 200 day simple moving average of $207.18. Carvana Co. has a fifty-two week low of $48.15 and a fifty-two week high of $292.84. The stock has a market capitalization of $51.50 billion, a P/E ratio of 24,827.83 and a beta of 3.37. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. On average, sell-side analysts expect that Carvana Co. will post 0.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Eagle Asset Management Inc. purchased a new stake in shares of Carvana during the third quarter valued at $50,531,000. Oak Thistle LLC lifted its holdings in shares of Carvana by 115.9% during the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock valued at $658,000 after purchasing an additional 1,738 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Carvana by 33.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company’s stock valued at $77,807,000 after purchasing an additional 95,497 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Carvana during the fourth quarter valued at $609,000. Finally, Calamos Advisors LLC purchased a new stake in shares of Carvana during the fourth quarter valued at $1,106,000. Institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

CVNA has been the subject of a number of analyst reports. William Blair restated an “outperform” rating on shares of Carvana in a research report on Thursday. Citigroup upgraded Carvana from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $195.00 to $277.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price objective on Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $110.00 to $260.00 in a research report on Tuesday, November 5th. Finally, JMP Securities restated a “market outperform” rating and set a $320.00 price objective on shares of Carvana in a research report on Monday, December 16th. Nine equities research analysts have rated the stock with a hold rating and ten 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 price target of $259.00.

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.