Mark W. Jenkins Sells 20,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 20,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $241.78, for a total transaction of $4,835,600.00. Following the completion of the transaction, the chief financial officer now owns 170,732 shares of the company’s stock, valued at approximately $41,279,582.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Carvana Price Performance

NYSE CVNA opened at $241.44 on Friday. Carvana Co. has a 1 year low of $27.75 and a 1 year high of $259.39. The stock’s 50-day moving average price is $180.75 and its two-hundred day moving average price is $142.34. The company has a market cap of $49.96 billion, a PE ratio of 24,168.17 and a beta of 3.37. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the prior year, the firm earned $0.23 EPS. The firm’s revenue was up 31.8% compared to the same quarter last year. On average, analysts predict that Carvana Co. will post 0.53 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CVNA. Jefferies Financial Group increased their price objective on Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Wedbush increased their price target on Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Bank of America lifted their price objective on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company raised their target price on shares of Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $110.00 to $260.00 in a research note on Tuesday. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $217.71.

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently modified their holdings of the business. Forum Financial Management LP raised its position in Carvana by 3.8% during the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock valued at $361,000 after buying an additional 76 shares during the period. Empirical Asset Management LLC grew its stake in Carvana by 2.0% during the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock valued at $890,000 after acquiring an additional 100 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Carvana by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,366 shares of the company’s stock valued at $586,000 after purchasing an additional 115 shares during the period. Bleakley Financial Group LLC lifted its position in shares of Carvana by 6.0% in the third quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock worth $402,000 after purchasing an additional 130 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after purchasing an additional 144 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.