Insider Selling: Carvana Co. (NYSE:CVNA) CFO 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 that occurred on Monday, April 1st. The shares were sold at an average price of $86.76, for a total value of $4,771,800.00. Following the completion of the transaction, the chief financial officer now directly owns 178,156 shares of the company’s stock, valued at $15,456,814.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Carvana Stock Performance

NYSE:CVNA opened at $83.86 on Friday. The stock has a fifty day moving average price of $69.40 and a two-hundred day moving average price of $50.02. The stock has a market capitalization of $16.93 billion, a price-to-earnings ratio of 155.30 and a beta of 3.32. Carvana Co. has a 1 year low of $6.70 and a 1 year high of $94.04.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.56 billion. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.97) EPS. On average, analysts predict that Carvana Co. will post -3.4 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Morgan Stanley increased its position in shares of Carvana by 65.1% in the fourth quarter. Morgan Stanley now owns 14,083,153 shares of the company’s stock valued at $66,754,000 after buying an additional 5,554,691 shares in the last quarter. Spruce House Investment Management LLC increased its position in shares of Carvana by 52.7% in the fourth quarter. Spruce House Investment Management LLC now owns 10,000,000 shares of the company’s stock valued at $47,400,000 after buying an additional 3,450,000 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Carvana in the fourth quarter valued at $14,102,000. FMR LLC increased its position in shares of Carvana by 143.7% in the first quarter. FMR LLC now owns 4,667,263 shares of the company’s stock valued at $45,693,000 after buying an additional 2,752,097 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Carvana by 46.8% in the first quarter. Vanguard Group Inc. now owns 7,297,426 shares of the company’s stock valued at $870,511,000 after buying an additional 2,325,545 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CVNA shares. Evercore ISI upped their price target on Carvana from $75.00 to $78.00 and gave the company an “in-line” rating in a report on Tuesday. Morgan Stanley upped their price target on Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, February 26th. Royal Bank of Canada raised Carvana from an “underperform” rating to a “sector perform” rating and upped their price target for the company from $45.00 to $90.00 in a report on Friday, March 8th. Wedbush increased their price objective on Carvana from $40.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, February 20th. Finally, JMP Securities increased their price objective on Carvana from $60.00 to $80.00 and gave the company a “market outperform” rating in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $50.60.

Carvana Company Profile

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.