Mark W. Jenkins Sells 12,750 Shares of Carvana Co. (NYSE:CVNA) Stock

Key Points

• Carvana CFO Mark W. Jenkins sold 12,750 shares of the company's stock at an average price of $371.20, totaling approximately $4.73 million, reducing his ownership by 6.26%.
• The company reported a 41.9% increase in revenue year-over-year, reaching $4.84 billion, and beat earnings expectations with $1.28 EPS compared to a consensus of $1.09.
• Several analysts upgraded their ratings and price targets for Carvana, with Wells Fargo setting a new price target of $425.00 and Oppenheimer an even higher target of $450.00.

Carvana Co. (NYSE:CVNA - Get Free Report) CFO Mark W. Jenkins sold 12,750 shares of Carvana stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $371.20, for a total transaction of $4,732,800.00. Following the completion of the sale, the chief financial officer directly owned 191,020 shares of the company's stock, valued at $70,906,624. The trade was a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Carvana Trading Down 1.9%

Carvana stock traded down $6.99 during midday trading on Monday, reaching $360.79. The stock had a trading volume of 3,782,462 shares, compared to its average volume of 4,271,004. Carvana Co. has a twelve month low of $118.50 and a twelve month high of $413.33. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. The firm has a market cap of $77.26 billion, a price-to-earnings ratio of 90.42, a PEG ratio of 1.25 and a beta of 3.57. The firm's fifty day simple moving average is $333.58 and its two-hundred day simple moving average is $268.06.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. The business had revenue of $4.84 billion for 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%. Carvana's revenue for the quarter was up 41.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Equities analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Carvana

Hedge funds have recently modified their holdings of the stock. Simon Quick Advisors LLC grew its stake in Carvana by 20.7% in the second quarter. Simon Quick Advisors LLC now owns 1,484 shares of the company's stock valued at $500,000 after purchasing an additional 255 shares in the last quarter. Strs Ohio raised its position in Carvana by 387.6% during the second quarter. Strs Ohio now owns 19,878 shares of the company's stock valued at $6,698,000 after acquiring an additional 15,801 shares in the last quarter. Amalgamated Bank grew its position in Carvana by 52.4% in the second quarter. Amalgamated Bank now owns 9,660 shares of the company's stock worth $3,255,000 after acquiring an additional 3,323 shares in the last quarter. Atria Investments Inc bought a new position in shares of Carvana during the 2nd quarter valued at $744,000. Finally, Assetmark Inc. raised its holdings in shares of Carvana by 458.2% during the 2nd quarter. Assetmark Inc. now owns 441 shares of the company's stock valued at $149,000 after purchasing an additional 362 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CVNA shares. Wells Fargo & Company upped their target price on Carvana from $390.00 to $425.00 and gave the company an "overweight" rating in a research note on Thursday. Oppenheimer upgraded shares of Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price objective on the stock in a report on Friday, July 25th. Needham & Company LLC lifted their target price on Carvana from $340.00 to $500.00 and gave the company a "buy" rating in a report on Thursday. DA Davidson boosted their price objective on shares of Carvana from $260.00 to $380.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Morgan Stanley boosted their price target on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $379.65.

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.

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