Carvana Co. (NYSE:CVNA) CFO Sells $4,712,950.00 in Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $85.69, for a total value of $4,712,950.00. Following the completion of the transaction, the chief financial officer now directly owns 216,523 shares in the company, valued at $18,553,855.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Carvana Trading Up 4.5 %

CVNA traded up $5.22 on Friday, hitting $121.72. 8,523,599 shares of the company’s stock were exchanged, compared to its average volume of 6,314,580. The stock has a fifty day moving average of $80.75 and a two-hundred day moving average of $55.27. Carvana Co. has a twelve month low of $6.92 and a twelve month high of $124.20. The firm has a market cap of $24.58 billion, a PE ratio of 53.39 and a beta of 3.28.

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

Institutional Investors Weigh In On Carvana

Several large investors have recently added to or reduced their stakes in the stock. Morgan Stanley raised its holdings in shares of Carvana by 13.8% during the third quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock valued at $619,478,000 after buying an additional 1,784,009 shares during the last quarter. Vanguard Group Inc. raised its stake in Carvana by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after acquiring an additional 655,603 shares in the last quarter. TD Asset Management Inc bought a new position in shares of Carvana in the third quarter worth $22,906,000. UBS Group AG increased its holdings in shares of Carvana by 132.6% during the third quarter. UBS Group AG now owns 81,620 shares of the company’s stock valued at $3,426,000 after purchasing an additional 331,892 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Carvana by 56.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock valued at $32,684,000 after purchasing an additional 280,851 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVNA has been the topic of several analyst reports. 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. TD Cowen boosted their target price on shares of Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of Carvana in a report on Thursday. JPMorgan Chase & Co. raised shares of Carvana from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $70.00 to $130.00 in a research note on Thursday. Finally, Jefferies Financial Group raised shares of Carvana from an “underperform” rating to a “hold” rating and upped their price objective for the company from $30.00 to $85.00 in a research report on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $73.44.

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.