Insider Selling: Carvana (NYSE:CVNA) CFO Sells 12,750 Shares of Stock

Key Points

• Carvana CFO Mark Jenkins sold 12,750 shares of stock at an average price of $389.27, totaling approximately $4.96 million, which decreased his ownership stake by 5.79%.
• Carvana reported a 41.9% year-over-year revenue increase, reaching $4.84 billion, and earnings per share of $1.28, surpassing analysts' expectations.
• Thirteen analysts rated Carvana's stock as a Buy, with a consensus target price of $404.94, indicating positive outlook and market sentiment.

Carvana Co. (NYSE:CVNA - Get Free Report) CFO Mark Jenkins sold 12,750 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $389.27, for a total value of $4,963,192.50. Following the completion of the sale, the chief financial officer directly owned 207,362 shares in the company, valued at approximately $80,719,805.74. This represents a 5.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Carvana Price Performance

CVNA traded down $0.92 during trading on Thursday, hitting $394.49. The company's stock had a trading volume of 1,594,982 shares, compared to its average volume of 2,716,359. The firm's 50 day moving average price is $363.74 and its two-hundred day moving average price is $307.57. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $413.33. The stock has a market capitalization of $84.89 billion, a price-to-earnings ratio of 98.87, a price-to-earnings-growth ratio of 1.30 and a beta of 3.55.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.19. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm's quarterly revenue was up 41.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Sell-side analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CVNA has been the subject of a number of recent analyst reports. Stephens reiterated an "overweight" rating and issued a $440.00 price objective on shares of Carvana in a report on Tuesday, September 23rd. Gordon Haskett initiated coverage on Carvana in a research note on Monday, July 14th. They issued a "hold" rating and a $329.00 target price for the company. Wells Fargo & Company boosted their target price on Carvana from $390.00 to $425.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Jefferies Financial Group set a $475.00 target price on Carvana in a research note on Wednesday. Finally, DA Davidson boosted their target price on Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $404.94.

Institutional Trading of Carvana

Several institutional investors and hedge funds have recently bought and sold shares of CVNA. Wealth Enhancement Advisory Services LLC raised its stake in Carvana by 16.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,513 shares of the company's stock valued at $511,000 after buying an additional 348 shares during the period. Wellington Management Group LLP lifted its holdings in Carvana by 4.1% during the 4th quarter. Wellington Management Group LLP now owns 36,215 shares of the company's stock worth $7,365,000 after purchasing an additional 1,430 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Carvana by 39.4% during the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock worth $61,000 after purchasing an additional 82 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Carvana by 27,368.4% during the 1st quarter. GAMMA Investing LLC now owns 215,352 shares of the company's stock worth $45,026,000 after purchasing an additional 214,568 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Carvana by 5.7% during the 1st quarter. Rhumbline Advisers now owns 208,856 shares of the company's stock worth $43,668,000 after purchasing an additional 11,240 shares during the last quarter. Institutional investors own 56.71% of the company's stock.

Carvana Company Profile

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.

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