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

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 63,750 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total transaction of $4,561,312.50. Following the sale, the chief financial officer directly owned 1,149,518 shares of the company’s stock, valued at approximately $82,248,012.90. This trade represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Performance

Carvana stock opened at $74.65 on Friday. The firm has a market capitalization of $82.15 billion, a PE ratio of 41.29, a price-to-earnings-growth ratio of 2.15 and a beta of 3.49. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The stock’s 50 day moving average price is $68.89 and its 200 day moving average price is $68.31. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The business had revenue of $7.38 billion during the quarter, compared to analyst estimates of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The business’s revenue was up 52.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.51 earnings per share. As a group, sell-side analysts expect that Carvana Co. will post 1.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CVNA shares. Barclays decreased their price objective on Carvana from $94.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Wells Fargo & Company set a $80.00 price objective on Carvana and gave the stock an “overweight” rating in a report on Thursday, July 30th. Argus lowered their price target on Carvana from $500.00 to $100.00 in a report on Monday, May 11th. Weiss Ratings raised shares of Carvana from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. Finally, Hovde Group lifted their target price on shares of Carvana from $39.50 to $48.00 and gave the company a “market perform” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.14.

Institutional Investors Weigh In On Carvana

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in Carvana by 40.8% in the first quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock valued at $6,243,000 after purchasing an additional 8,654 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Carvana by 251.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock valued at $53,000 after acquiring an additional 181 shares in the last quarter. Cerity Partners LLC lifted its position in Carvana by 28.8% during the 2nd quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock worth $1,847,000 after buying an additional 1,226 shares in the last quarter. AXA S.A. raised its stake in shares of Carvana by 340.7% during the 2nd quarter. AXA S.A. now owns 4,253 shares of the company’s stock worth $1,433,000 after purchasing an additional 3,288 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of Carvana by 9.1% in the second quarter. NewEdge Advisors LLC now owns 9,893 shares of the company’s stock valued at $3,334,000 after buying an additional 825 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.