Carvana Co. (NYSE:CVNA) CFO Sells $7,000,000.00 in Stock

Carvana Co. (NYSE:CVNA - Get Free Report) CFO Mark W. Jenkins sold 20,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $350.00, for a total value of $7,000,000.00. Following the transaction, the chief financial officer now owns 192,239 shares of the company's stock, valued at approximately $67,283,650. This represents a 9.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Carvana Stock Performance

Shares of NYSE:CVNA traded up $1.50 during mid-day trading on Wednesday, reaching $340.00. 2,078,630 shares of the company traded hands, compared to its average volume of 3,933,847. The company's 50 day moving average price is $263.92 and its 200-day moving average price is $239.67. The firm has a market cap of $72.81 billion, a PE ratio of 216.56 and a beta of 3.65. Carvana Co. has a 52 week low of $100.05 and a 52 week high of $351.43. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. The firm had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company's revenue for the quarter was up 38.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 earnings per share. On average, equities analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CVNA. Brooklyn Investment Group raised its position in shares of Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after buying an additional 125 shares in the last quarter. Quent Capital LLC purchased a new stake in Carvana in the 4th quarter valued at about $28,000. Global Retirement Partners LLC increased its holdings in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after purchasing an additional 78 shares during the period. Rialto Wealth Management LLC bought a new position in shares of Carvana during the 4th quarter worth $31,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Carvana in the first quarter valued at about $33,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on CVNA shares. JMP Securities lowered their price objective on shares of Carvana from $340.00 to $275.00 and set a "market outperform" rating for the company in a report on Wednesday, April 9th. DA Davidson raised their target price on Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. dropped their price target on Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Piper Sandler set a $340.00 price objective on Carvana and gave the stock an "overweight" rating in a report on Thursday, May 22nd. Finally, Needham & Company LLC reissued a "buy" rating and set a $340.00 price objective on shares of Carvana in a research note on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $280.35.

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.