Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins Sells 55,000 Shares of Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 55,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $124.08, for a total transaction of $6,824,400.00. Following the completion of the sale, the chief financial officer now directly owns 186,580 shares of the company’s stock, valued at approximately $23,150,846.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Carvana Stock Performance

Shares of CVNA stock opened at $127.70 on Thursday. Carvana Co. has a fifty-two week low of $23.43 and a fifty-two week high of $136.92. The company has a 50 day moving average price of $110.88 and a 200 day moving average price of $80.08. The stock has a market capitalization of $25.87 billion, a P/E ratio of 56.01 and a beta of 3.37.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.35. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.72 billion. On average, research analysts forecast that Carvana Co. will post -0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new stake in Carvana in the 3rd quarter valued at about $935,000. Morgan Stanley raised its holdings in Carvana by 13.8% in the third quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock valued at $619,478,000 after acquiring an additional 1,784,009 shares in the last quarter. Vanguard Group Inc. lifted its stake in Carvana by 0.7% in the third quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock worth $393,268,000 after acquiring an additional 62,820 shares during the last quarter. Diversified Trust Co lifted its stake in Carvana by 6.0% in the fourth quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock worth $300,000 after acquiring an additional 319 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Carvana during the 4th quarter worth approximately $117,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Royal Bank of Canada increased their price target on shares of Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. increased their price objective on Carvana from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Robert W. Baird lifted their target price on Carvana from $65.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Wells Fargo & Company upped their price target on Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Finally, JMP Securities raised their price objective on Carvana from $135.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Friday, June 7th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $88.50.

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.