Carvana Co. (NYSE:CVNA) CFO Sells $8,209,694.70 in Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 28,422 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the sale, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at approximately $63,536,023.70. This represents a 11.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Carvana Stock Performance

Shares of NYSE CVNA opened at $248.03 on Friday. The firm has a market cap of $51.50 billion, a price-to-earnings ratio of 24,827.83 and a beta of 3.37. The business’s 50-day simple moving average is $234.85 and its 200-day simple moving average is $207.18. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. Carvana Co. has a 52 week low of $48.15 and a 52 week high of $292.84.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. As a group, equities research analysts expect that Carvana Co. will post 0.87 earnings per share for the current fiscal year.

Institutional Trading of Carvana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVNA. FMR LLC grew its holdings in Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after buying an additional 5,882,656 shares during the last quarter. Whale Rock Capital Management LLC acquired a new stake in Carvana in the 3rd quarter valued at approximately $162,953,000. Norges Bank acquired a new stake in Carvana in the 4th quarter valued at approximately $179,364,000. Vanguard Group Inc. grew its holdings in Carvana by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock valued at $2,323,463,000 after buying an additional 610,234 shares during the last quarter. Finally, Castle Hook Partners LP bought a new stake in shares of Carvana in the 4th quarter worth approximately $116,020,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

CVNA has been the subject of several research analyst reports. Stephens reissued an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a research note on Thursday, February 6th. Robert W. Baird upped their target price on Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday. Needham & Company LLC upped their target price on Carvana from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company dropped their target price on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Carvana in a research report on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and an average target price of $259.00.

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.