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

Key Points

• CFO Mark Jenkins sold 63,750 Carvana shares for approximately $3.93 million at an average price of $61.64, reducing his holdings by 5.28% to 1,142,502 shares. The transaction occurred under a pre-arranged Rule 10b5-1 plan.
• Carvana recently reported quarterly EPS of $0.42, beating estimates of $0.39, while revenue rose 52.4% year over year to $7.38 billion. The stock traded near $63.64, well below its 52-week high of $97.38.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $84.30, while institutional investors own 56.71% of the company’s shares.

Carvana Co. (NYSE:CVNA - Get Free Report) CFO Mark Jenkins sold 63,750 shares of Carvana stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $61.64, for a total value of $3,929,550.00. Following the completion of the transaction, the chief financial officer owned 1,142,502 shares of the company's stock, valued at approximately $70,423,823.28. This represents a 5.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Price Performance

NYSE CVNA traded down $0.13 during trading hours on Monday, reaching $63.64. The company's stock had a trading volume of 6,980,793 shares, compared to its average volume of 13,393,684. The firm has a market capitalization of $70.03 billion, a price-to-earnings ratio of 35.20, a P/E/G ratio of 1.84 and a beta of 3.55. The company's 50-day moving average is $69.01 and its two-hundred day moving average is $68.48. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.39 by $0.03. The company had revenue of $7.38 billion for the quarter, compared to analyst estimates of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.Carvana's quarterly revenue was up 52.4% compared to the same quarter last year. During the same period last year, the company earned $1.51 earnings per share. On average, equities analysts predict that Carvana Co. will post 1.68 EPS for the current year.

Analyst Upgrades and Downgrades

CVNA has been the topic of a number of research analyst reports. Citigroup reissued a "market outperform" rating on shares of Carvana in a research note on Monday, August 31st. Wells Fargo & Company set a $80.00 price objective on shares of Carvana and gave the stock an "overweight" rating in a research report on Thursday, July 30th. DA Davidson set a $67.00 target price on shares of Carvana in a research report on Thursday, July 30th. Citizens Jmp cut their target price on shares of Carvana from $103.00 to $83.00 and set a "market outperform" rating for the company in a research note on Thursday, July 30th. Finally, UBS Group restated a "buy" rating and set a $83.00 price target on shares of Carvana in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $84.30.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVNA. Capital Research Global Investors raised its position in shares of Carvana by 42.9% in the fourth quarter. Capital Research Global Investors now owns 5,700,953 shares of the company's stock valued at $2,405,959,000 after buying an additional 1,711,144 shares during the last quarter. State Street Corp boosted its position in Carvana by 417.1% during the second quarter. State Street Corp now owns 29,435,364 shares of the company's stock worth $1,937,436,000 after acquiring an additional 23,742,422 shares during the last quarter. Sands Capital Management LLC boosted its position in Carvana by 44.4% during the fourth quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company's stock worth $1,030,798,000 after acquiring an additional 751,019 shares during the last quarter. Spruce House Investment Management LLC grew its stake in Carvana by 2.6% during the 1st quarter. Spruce House Investment Management LLC now owns 2,335,000 shares of the company's stock valued at $734,077,000 after acquiring an additional 60,000 shares in the last quarter. Finally, Capital World Investors grew its stake in Carvana by 58.6% during the 4th quarter. Capital World Investors now owns 1,278,944 shares of the company's stock valued at $539,740,000 after acquiring an additional 472,701 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

About Carvana

Carvana Co is an online used-car retailer that enables customers to research, purchase, finance, trade in and sell vehicles through its digital platform. The company's services are designed to allow customers to complete much of the vehicle-buying process online, including selecting a vehicle, arranging financing, completing documentation and scheduling delivery or pickup.

Carvana offers a broad selection of used cars, trucks and sport utility vehicles. Its platform includes vehicle listings with photographs and inspection information, while its operations support vehicle reconditioning, logistics and customer delivery.

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