Carvana (NYSE:CVNA) CFO Mark Jenkins Sells 63,750 Shares

Key Points

• Carvana CFO Mark Jenkins sold 63,750 shares at an average price of $64.50, totaling approximately $4.11 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan, leaving him with 1,156,534 shares.
• Carvana shares rose 2.7% to $67.91 after the company reported quarterly EPS of $0.42, ahead of the $0.39 consensus, while revenue reached $7.38 billion, up 52.4% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $84.14, while institutional investors own 56.71% of the company’s stock.

Carvana Co. (NYSE:CVNA - Get Free Report) CFO Mark Jenkins sold 63,750 shares of Carvana stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $64.50, for a total transaction of $4,111,875.00. Following the sale, the chief financial officer directly owned 1,156,534 shares in the company, valued at approximately $74,596,443. The trade was a 5.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Trading Up 2.7%

CVNA stock traded up $1.78 during midday trading on Tuesday, hitting $67.91. 7,785,858 shares of the company's stock were exchanged, compared to its average volume of 14,964,482. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $74.49 billion, a PE ratio of 37.56, a P/E/G ratio of 2.30 and a beta of 3.46. The business has a 50-day simple moving average of $66.81 and a two-hundred day simple moving average of $70.45.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.03. The business had revenue of $7.38 billion during the quarter, compared to analysts' expectations of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company's revenue was up 52.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.51 EPS. On average, sell-side analysts predict that Carvana Co. will post 1.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CVNA shares. Robert W. Baird set a $72.00 price objective on shares of Carvana in a research report on Thursday, July 30th. BNP Paribas Exane lowered their price target on Carvana from $86.00 to $69.00 and set a "hold" rating for the company in a research report on Thursday, July 30th. Hovde Group lifted their price objective on Carvana from $39.50 to $48.00 and gave the company a "market perform" rating in a research note on Tuesday. Stephens increased their target price on Carvana from $86.00 to $97.00 in a research note on Thursday, April 30th. Finally, Citizens Jmp lowered their target price on Carvana from $103.00 to $83.00 and set a "market outperform" rating for the company in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.14.

Institutional Investors Weigh In On Carvana

A number of large investors have recently modified their holdings of CVNA. Price T Rowe Associates Inc. MD grew its stake in shares of Carvana by 8.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company's stock worth $7,481,081,000 after purchasing an additional 1,407,762 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Carvana by 24.7% during the 4th quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company's stock worth $7,082,804,000 after buying an additional 3,328,115 shares during the last quarter. State Street Corp lifted its holdings in Carvana by 93.7% during the 4th quarter. State Street Corp now owns 5,714,779 shares of the company's stock worth $2,411,751,000 after buying an additional 2,764,759 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Carvana by 42.9% during the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company's stock worth $2,405,959,000 after acquiring an additional 1,711,144 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Carvana by 55.4% during the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company's stock worth $1,632,763,000 after acquiring an additional 1,382,852 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

About Carvana

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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