Carvana (NYSE:CVNA) CFO Sells 63,750 Shares of Stock

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 63,750 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $68.34, for a total transaction of $4,356,675.00. Following the completion of the sale, the chief financial officer owned 1,029,580 shares in the company, valued at $70,361,497.20. This represents a 5.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Price Performance

Shares of CVNA traded up $0.84 during trading hours on Thursday, hitting $68.71. The stock had a trading volume of 8,379,061 shares, compared to its average volume of 15,753,974. The stock has a market capitalization of $75.36 billion, a price-to-earnings ratio of 41.80, a P/E/G ratio of 11.11 and a beta of 3.46. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 2.57. The company’s fifty day moving average is $70.44 and its two-hundred day moving average is $73.93. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $1.37. The firm had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.12 billion. Carvana had a net margin of 6.40% and a return on equity of 41.46%. On average, analysts anticipate that Carvana Co. will post 1.58 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Gordon Haskett lifted their price objective on Carvana from $67.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. BTIG Research restated a “buy” rating and set a $97.00 target price on shares of Carvana in a report on Friday, June 5th. Robert W. Baird set a $88.00 price target on Carvana in a report on Friday, May 15th. Jefferies Financial Group cut their price target on Carvana from $97.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Finally, BNP Paribas Exane increased their price objective on shares of Carvana from $77.60 to $85.80 in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Carvana currently has an average rating of “Moderate Buy” and an average price target of $93.14.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Ascentis Independent Advisors acquired a new position in shares of Carvana during the first quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Carvana during the 4th quarter worth about $29,000. Farmers & Merchants Investments Inc. bought a new stake in Carvana during the 4th quarter worth about $29,000. Annis Gardner Whiting Capital Advisors LLC lifted its position in Carvana by 152.6% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after purchasing an additional 58 shares during the period. Finally, Motiv8 Investments LLC bought a new position in shares of Carvana in the 4th quarter valued at about $33,000. 56.71% of the stock is currently owned by institutional investors.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.