Insider Selling: Carvana (NYSE:CVNA) CFO Sells 12,750 Shares of Stock

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 12,750 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $310.35, for a total value of $3,956,962.50. Following the sale, the chief financial officer owned 197,089 shares of the company’s stock, valued at $61,166,571.15. This trade represents a 6.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Carvana Stock Up 0.0%

NYSE CVNA traded up $0.08 on Friday, reaching $313.99. The company had a trading volume of 1,994,512 shares, compared to its average volume of 2,959,618. The company has a quick ratio of 2.73, a current ratio of 4.31 and a debt-to-equity ratio of 1.15. The company’s fifty day moving average is $346.11 and its 200 day moving average is $372.26. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $486.89. The stock has a market capitalization of $68.72 billion, a P/E ratio of 39.05 and a beta of 3.61.

Shares of Carvana are scheduled to split on Thursday, May 7th. The 5-1 split was announced on Friday, March 13th. The newly minted shares will be issued to shareholders after the closing bell on Wednesday, May 6th.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $3.12. The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.24 billion. Carvana had a net margin of 6.92% and a return on equity of 50.96%. The business’s revenue was up 58.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.56 EPS. Sell-side analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carvana

Large investors have recently modified their holdings of the stock. First Horizon Corp raised its holdings in shares of Carvana by 6.4% in the 4th quarter. First Horizon Corp now owns 418 shares of the company’s stock worth $176,000 after purchasing an additional 25 shares during the period. SJS Investment Consulting Inc. grew its holdings in Carvana by 28.3% during the third quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock valued at $51,000 after purchasing an additional 30 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in Carvana by 23.1% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 165 shares of the company’s stock worth $62,000 after buying an additional 31 shares during the last quarter. Finivi Inc. raised its stake in shares of Carvana by 4.6% in the fourth quarter. Finivi Inc. now owns 698 shares of the company’s stock valued at $295,000 after buying an additional 31 shares during the period. Finally, HB Wealth Management LLC raised its stake in shares of Carvana by 1.0% in the fourth quarter. HB Wealth Management LLC now owns 3,190 shares of the company’s stock valued at $1,346,000 after buying an additional 31 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Carvana from $510.00 to $490.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. Jefferies Financial Group reduced their target price on Carvana from $550.00 to $485.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Citigroup decreased their price target on Carvana from $550.00 to $465.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Bank of America dropped their price target on Carvana from $460.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. Finally, DA Davidson reduced their price objective on Carvana from $470.00 to $320.00 and set a “neutral” rating for the company in a research note on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $440.59.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.