Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins Sells 43,433 Shares

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 43,433 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $209.27, for a total transaction of $9,089,223.91. Following the sale, the chief financial officer now owns 214,678 shares in the company, valued at $44,925,665.06. The trade was a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Carvana Stock Up 6.3 %

CVNA opened at $226.07 on Thursday. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The business’s fifty day simple moving average is $226.26 and its 200 day simple moving average is $219.11. Carvana Co. has a 52 week low of $67.61 and a 52 week high of $292.84. The stock has a market cap of $48.19 billion, a PE ratio of 143.99 and a beta of 3.56.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. As a group, research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently made changes to their positions in CVNA. Whale Rock Capital Management LLC bought a new stake in Carvana in the third quarter worth $162,953,000. Norges Bank purchased a new stake in Carvana during the 4th quarter valued at about $179,364,000. Vanguard Group Inc. grew its position in Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock worth $2,323,463,000 after acquiring an additional 610,234 shares during the last quarter. Castle Hook Partners LP purchased a new position in Carvana in the 4th quarter worth approximately $116,020,000. Finally, Lord Abbett & CO. LLC lifted its position in Carvana by 1,454.1% in the third quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock valued at $93,754,000 after purchasing an additional 503,824 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. DA Davidson increased their target price on Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. JMP Securities restated a “market outperform” rating and issued a $320.00 target price on shares of Carvana in a research note on Monday, December 16th. Wells Fargo & Company decreased their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Stephens reissued an “overweight” rating and issued a $300.00 price target on shares of Carvana in a report on Monday, March 3rd. Finally, Evercore ISI reduced their price objective on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research note on Tuesday, March 11th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $261.53.

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.