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

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 63,750 shares of Carvana stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $71.78, for a total value of $4,575,975.00. Following the completion of the transaction, the chief financial officer owned 1,135,486 shares in the company, valued at approximately $81,505,185.08. The trade was a 5.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Price Performance

Shares of Carvana stock traded down $0.62 during trading on Tuesday, reaching $71.38. 9,959,162 shares of the company’s stock were exchanged, compared to its average volume of 13,071,145. 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 Co. has a 1-year low of $54.46 and a 1-year high of $97.38. The company has a market cap of $78.55 billion, a P/E ratio of 35.84, a PEG ratio of 1.75 and a beta of 3.55. The firm’s 50-day moving average price is $65.83 and its 200 day moving average price is $69.31.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.05). Carvana had a net margin of 6.21% and a return on equity of 36.63%. The business had revenue of $8.04 billion during the quarter, compared to analyst estimates of $7.71 billion. During the same period last year, the business earned $1.03 earnings per share. The business’s quarterly revenue was up 42.4% compared to the same quarter last year. As a group, research analysts anticipate that Carvana Co. will post 1.59 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVNA. Bank of America restated a “neutral” rating on shares of Carvana in a research note on Thursday, October 29th. Citigroup reissued a “market outperform” rating on shares of Carvana in a research note on Wednesday, October 28th. BNP Paribas Exane cut their target price on shares of Carvana from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, October 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $85.00 target price on shares of Carvana in a research note on Thursday, October 29th. Finally, Weiss Ratings downgraded shares of Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.09.

Institutional Trading of Carvana

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVNA. Ascentis Independent Advisors acquired a new position in shares of Carvana in the 1st quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Carvana by 152.6% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after buying an additional 58 shares during the period. Whipplewood Advisors LLC acquired a new stake in shares of Carvana during the first quarter worth $36,000. Leonteq Securities AG raised its stake in Carvana by 106.8% during the first quarter. Leonteq Securities AG now owns 122 shares of the company’s stock worth $38,000 after buying an additional 1,912 shares during the last quarter. Finally, Root Financial Partners LLC raised its stake in Carvana by 114.1% during the first quarter. Root Financial Partners LLC now owns 289 shares of the company’s stock worth $91,000 after buying an additional 154 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

About Carvana

Carvana Co (NYSE: CVNA) is an online automotive retailer that sells used vehicles through its digital platform. Customers can browse vehicles, review detailed descriptions and vehicle history information, arrange financing, complete transactions online and choose home delivery or pickup at a Carvana location.

The company also provides vehicle trade-in services and offers related products, including vehicle protection plans and other automotive services. Carvana is known for its automated, glass-enclosed vehicle vending machines, which provide an alternative pickup experience in select markets.

Founded in 2012 and headquartered in Tempe, Arizona, Carvana began operations as an online used-car retailer in 2013 and went public in 2017.