Mark W. Jenkins Sells 37,687 Shares of Carvana Co. (NYSE:CVNA) Stock

Key Points

• Mark W. Jenkins, CFO of Carvana Co., sold 37,687 shares of the company's stock for a total of $14.93 million, decreasing his ownership by 16.48%.
• Carvana reported $1.28 earnings per share for the last quarter, exceeding analysts' expectations, with revenue rising 41.9% year-over-year to $4.84 billion.
• Analyst ratings for Carvana have improved, with six analysts rating it as a hold and thirteen as a buy, and a consensus target price of $379.65 per share.

Carvana Co. (NYSE:CVNA - Get Free Report) CFO Mark W. Jenkins sold 37,687 shares of Carvana stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $396.05, for a total transaction of $14,925,936.35. Following the completion of the transaction, the chief financial officer owned 191,020 shares in the company, valued at approximately $75,653,471. This trade represents a 16.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Carvana Price Performance

NYSE:CVNA traded down $6.99 during trading hours on Monday, reaching $360.79. 3,782,462 shares of the company traded hands, compared to its average volume of 4,271,004. Carvana Co. has a 1-year low of $118.50 and a 1-year high of $413.33. The stock has a market cap of $77.26 billion, a P/E ratio of 90.42, a P/E/G ratio of 1.25 and a beta of 3.57. The firm's 50-day moving average is $333.58 and its 200-day moving average is $268.06. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58.

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, topping analysts' consensus estimates of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the prior year, the company posted ($0.05) EPS. The business's revenue for the quarter was up 41.9% compared to the same quarter last year. Equities research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CVNA has been the topic of a number of analyst reports. Wedbush raised Carvana to a "hold" rating in a report on Thursday, May 8th. Wall Street Zen raised Carvana from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Bank of America increased their price objective on Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a research report on Thursday. Gordon Haskett assumed coverage on shares of Carvana in a research report on Monday, July 14th. They set a "hold" rating and a $329.00 target price on the stock. Finally, Oppenheimer raised shares of Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price target on the stock in a research note on Friday, July 25th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $379.65.

Hedge Funds Weigh In On Carvana

A number of hedge funds have recently made changes to their positions in the business. Hilltop National Bank purchased a new position in Carvana in the second quarter valued at about $25,000. Brooklyn Investment Group grew its holdings in 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 purchasing an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Carvana during the 1st quarter worth $33,000. SJS Investment Consulting Inc. increased its position in shares of Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company's stock worth $36,000 after acquiring an additional 96 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Carvana in the second quarter worth about $42,000. Hedge funds and other 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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