Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins Sells 10,000 Shares

Carvana Co. (NYSE:CVNA - Get Free Report) CFO Mark W. Jenkins sold 10,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the transaction, the chief financial officer now directly owns 189,097 shares of the company's stock, valued at $37,961,222.75. This represents a 5.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Carvana Trading Down 11.2 %

CVNA stock traded down $22.40 during trading on Friday, hitting $177.16. The company had a trading volume of 11,671,706 shares, compared to its average volume of 10,560,553. The firm has a 50-day moving average price of $236.67 and a 200-day moving average price of $180.45. Carvana Co. has a 12 month low of $40.21 and a 12 month high of $268.34. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The stock has a market cap of $36.78 billion, a price-to-earnings ratio of 17,733.73 and a beta of 3.32.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. The company's revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 EPS. As a group, analysts predict that Carvana Co. will post 0.76 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Carvana from $230.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Wedbush boosted their price target on shares of Carvana from $150.00 to $175.00 and gave the company a "neutral" rating in a report on Monday, October 7th. Morgan Stanley raised shares of Carvana from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $110.00 to $260.00 in a report on Tuesday, November 5th. Bank of America upped their target price 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. Finally, Wells Fargo & Company raised their price target on shares of Carvana from $175.00 to $250.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Carvana currently has an average rating of "Hold" and a consensus price target of $229.18.

Institutional Investors Weigh In On Carvana

Several institutional investors have recently modified their holdings of the business. Forum Financial Management LP lifted its holdings in Carvana by 3.8% in 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 lifted its stake in shares of Carvana by 2.0% in the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company's stock valued at $890,000 after purchasing an additional 100 shares during the period. CIBC Asset Management Inc lifted its stake 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. MML Investors Services LLC boosted its position in shares of Carvana by 3.0% in the 3rd quarter. MML Investors Services LLC now owns 4,172 shares of the company's stock worth $726,000 after purchasing an additional 122 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its stake in shares of Carvana by 6.0% during 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 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.