Insider Selling: Carvana Co. (NYSE:CVNA) CFO Sells 51,380 Shares of Stock

Carvana Co. (NYSE:CVNA - Get Free Report) CFO Mark W. Jenkins sold 51,380 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $326.03, for a total transaction of $16,751,421.40. Following the sale, the chief financial officer now owns 162,079 shares in the company, valued at $52,842,616.37. This trade represents a 24.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Carvana Price Performance

Shares of CVNA traded down $1.62 during trading hours on Friday, reaching $341.68. 2,961,715 shares of the company traded hands, compared to its average volume of 3,957,636. The stock has a fifty day simple moving average of $258.50 and a 200 day simple moving average of $238.52. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. Carvana Co. has a fifty-two week low of $100.05 and a fifty-two week high of $351.43. The stock has a market capitalization of $73.17 billion, a PE ratio of 217.63 and a beta of 3.61.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company's quarterly revenue was up 38.3% compared to the same quarter last year. During the same period last year, the business posted $0.23 EPS. As a group, research analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

CVNA has been the subject of a number of analyst reports. Needham & Company LLC reissued a "buy" rating and set a $340.00 price objective on shares of Carvana in a research report on Thursday, May 8th. Royal Bank of Canada increased their price objective on Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Robert W. Baird upped their price target on Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. JMP Securities cut their price target on Carvana from $340.00 to $275.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. cut their price objective on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, Carvana currently has an average rating of "Moderate Buy" and an average target price of $275.65.

Institutional Investors Weigh In On Carvana

Several hedge funds have recently modified their holdings of CVNA. Fifth Third Bancorp increased its holdings in Carvana by 37.6% during the 4th quarter. Fifth Third Bancorp now owns 322 shares of the company's stock worth $65,000 after purchasing an additional 88 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in Carvana during the 4th quarter valued at approximately $957,000. Chicago Capital LLC raised its stake in Carvana by 13.2% during the 4th quarter. Chicago Capital LLC now owns 6,109 shares of the company's stock valued at $1,242,000 after acquiring an additional 710 shares in the last quarter. abrdn plc bought a new stake in shares of Carvana in the 4th quarter worth $294,000. Finally, Calamos Advisors LLC acquired a new stake in shares of Carvana during the fourth quarter worth $1,106,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

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.