Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins Sells 55,000 Shares

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 55,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $124.08, for a total transaction of $6,824,400.00. Following the transaction, the chief financial officer now directly owns 186,580 shares of the company’s stock, valued at $23,150,846.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Carvana Price Performance

CVNA stock opened at $127.84 on Friday. Carvana Co. has a 12 month low of $23.43 and a 12 month high of $136.92. The firm has a 50 day simple moving average of $111.89 and a 200 day simple moving average of $80.41. The firm has a market cap of $25.90 billion, a PE ratio of 56.07 and a beta of 3.37.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.72 billion. As a group, sell-side analysts expect that Carvana Co. will post -0.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Evercore ISI boosted their target price on shares of Carvana from $118.00 to $135.00 and gave the company an “in-line” rating in a research note on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Carvana in a research note on Wednesday, June 26th. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Thursday, May 2nd. TD Cowen upped their price target on shares of Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Finally, Royal Bank of Canada upped their price target on shares of Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Carvana presently has an average rating of “Hold” and an average target price of $88.50.

Institutional Investors Weigh In On Carvana

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after acquiring an additional 655,603 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Carvana by 6.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 831,879 shares of the company’s stock valued at $44,040,000 after acquiring an additional 53,318 shares during the period. Blue Trust Inc. acquired a new stake in shares of Carvana during the fourth quarter valued at approximately $29,000. Rafferty Asset Management LLC raised its holdings in shares of Carvana by 38.6% during the fourth quarter. Rafferty Asset Management LLC now owns 43,792 shares of the company’s stock valued at $2,318,000 after acquiring an additional 12,193 shares during the period. Finally, Investmentaktiengesellschaft Fuer Langfristige Investoren TGV increased its stake in Carvana by 17.6% in the 4th quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock valued at $26,470,000 after buying an additional 75,000 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

About Carvana

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.