Carvana (NYSE:CVNA) CFO Mark Jenkins Sells 12,750 Shares

Key Points

• CFO Mark Jenkins sold 12,750 Carvana shares on May 1 at an average price of $387.19 for proceeds of about $4.94 million under a pre-arranged Rule 10b5-1 plan, trimming his holding to 210,127 shares (a 5.72% decrease).
• Carvana beat quarterly expectations with EPS of $0.34 versus $0.32 and revenue of $6.43 billion (consensus $6.12B), reporting a 6.4% net margin and a 41.46% return on equity.
• The stock trades near $390 (market cap ~$85.34B) with elevated valuation metrics (PE 47.44; 50-/200-day MAs $339.08/$372.85), while analysts rate the name a "Moderate Buy" with an average price target of $93.23.

Carvana Co. (NYSE:CVNA - Get Free Report) CFO Mark Jenkins sold 12,750 shares of Carvana stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $387.19, for a total transaction of $4,936,672.50. Following the completion of the sale, the chief financial officer owned 210,127 shares of the company's stock, valued at $81,359,073.13. This trade represents a 5.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Price Performance

Shares of NYSE CVNA opened at $389.97 on Thursday. The business has a fifty day moving average price of $339.08 and a two-hundred day moving average price of $372.85. The stock has a market capitalization of $85.34 billion, a PE ratio of 47.44, a P/E/G ratio of 27.67 and a beta of 3.55. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 2.57. Carvana Co. has a fifty-two week low of $255.79 and a fifty-two week high of $486.89.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.02. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The company had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.12 billion. As a group, equities analysts predict that Carvana Co. will post 7.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carvana

Several large investors have recently modified their holdings of the business. Royal Bank of Canada grew its stake in shares of Carvana by 40.8% in the first quarter. Royal Bank of Canada now owns 29,867 shares of the company's stock worth $6,243,000 after purchasing an additional 8,654 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Carvana by 251.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock worth $53,000 after purchasing an additional 181 shares during the last quarter. Cerity Partners LLC lifted its holdings in Carvana by 28.8% during the 2nd quarter. Cerity Partners LLC now owns 5,481 shares of the company's stock worth $1,847,000 after buying an additional 1,226 shares during the period. AXA S.A. lifted its holdings in Carvana by 340.7% during the 2nd quarter. AXA S.A. now owns 4,253 shares of the company's stock worth $1,433,000 after buying an additional 3,288 shares during the period. Finally, NewEdge Advisors LLC grew its position in shares of Carvana by 9.1% in the 2nd quarter. NewEdge Advisors LLC now owns 9,893 shares of the company's stock valued at $3,334,000 after buying an additional 825 shares during the last quarter. Institutional investors own 56.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CVNA. Robert W. Baird set a $88.00 target price on shares of Carvana in a research note on Thursday, April 30th. Citigroup reissued an "outperform" rating on shares of Carvana in a report on Friday, May 1st. Gordon Haskett boosted their price objective on Carvana from $67.00 to $85.00 and gave the stock a "hold" rating in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $107.40 target price on shares of Carvana in a report on Thursday, April 30th. Finally, Wedbush dropped their target price on Carvana from $100.00 to $85.00 and set an "outperform" rating for the company in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $93.23.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana's model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.

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