Insider Selling: Carvana (NYSE:CVNA) CFO Sells $4,488,000.00 in Stock

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 63,750 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $70.40, for a total value of $4,488,000.00. Following the transaction, the chief financial officer owned 1,036,594 shares in the company, valued at approximately $72,976,217.60. This trade represents a 5.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Price Performance

Carvana stock opened at $66.50 on Friday. The stock’s fifty day moving average price is $70.50 and its two-hundred day moving average price is $75.09. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 2.57. The firm has a market cap of $72.94 billion, a PE ratio of 40.45, a price-to-earnings-growth ratio of 11.17 and a beta of 3.45.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.12 billion. As a group, research analysts expect that Carvana Co. will post 1.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Carvana

Hedge funds and other institutional investors have recently modified their holdings of the business. Ascentis Independent Advisors bought a new position in shares of Carvana in the 1st quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Carvana in the 4th quarter valued at $29,000. Farmers & Merchants Investments Inc. bought a new position in shares of Carvana in the 4th quarter valued at $29,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Carvana by 152.6% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after purchasing an additional 58 shares during the last quarter. Finally, Motiv8 Investments LLC bought a new position in shares of Carvana in the 4th quarter valued at $33,000. Institutional investors own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CVNA shares. Citizens Jmp raised their price objective on Carvana from $92.00 to $103.00 and gave the stock a “market outperform” rating in a research note on Friday, May 1st. Wedbush lowered their price objective on Carvana from $100.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, February 19th. Stephens raised their price objective on Carvana from $86.00 to $97.00 in a research note on Thursday, April 30th. Needham & Company LLC restated a “buy” rating and set a $120.00 price objective on shares of Carvana in a research note on Friday. Finally, Robert W. Baird set a $88.00 price target on Carvana in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Carvana currently has an average rating of “Moderate Buy” and an average target price of $93.14.

About Carvana

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.