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

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 55,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $85.69, for a total transaction of $4,712,950.00. Following the completion of the transaction, the chief financial officer now owns 216,523 shares in the company, valued at $18,553,855.87. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Carvana Price Performance

Shares of Carvana stock traded up $5.22 during trading on Friday, hitting $121.72. 8,523,599 shares of the stock were exchanged, compared to its average volume of 6,314,580. The firm’s 50-day moving average price is $80.75 and its 200 day moving average price is $55.27. The stock has a market cap of $24.58 billion, a price-to-earnings ratio of 53.39 and a beta of 3.28. Carvana Co. has a 12-month low of $6.92 and a 12-month high of $124.20.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. Carvana’s revenue was down 14.6% compared to the same quarter last year. During the same period last year, the business earned ($0.97) earnings per share. As a group, research analysts forecast that Carvana Co. will post -3.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CVNA has been the topic of a number of research analyst reports. Wedbush boosted their target price on Carvana from $80.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. upgraded Carvana from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $70.00 to $130.00 in a report on Thursday. Morgan Stanley raised their target price on Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, February 26th. William Blair reiterated an “outperform” rating on shares of Carvana in a research note on Thursday. Finally, Wells Fargo & Company increased their price target on shares of Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $73.44.

Institutional Investors Weigh In On Carvana

Several institutional investors have recently added to or reduced their stakes in CVNA. Blue Trust Inc. purchased a new stake in Carvana in the fourth quarter valued at $29,000. Hanseatic Management Services Inc. acquired a new stake in shares of Carvana during the third quarter worth about $34,000. Parallel Advisors LLC lifted its holdings in shares of Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after purchasing an additional 194 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its position in shares of Carvana by 1,225.6% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock valued at $50,000 after purchasing an additional 1,103 shares during the period. Finally, Tidemark LLC purchased a new position in Carvana during the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.