Insider Selling: Carvana (NYSE:CVNA) CFO Sells $3,929,550.00 in Stock

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 63,750 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $61.64, for a total value of $3,929,550.00. Following the completion of the sale, the chief financial officer directly owned 1,142,502 shares of the company’s stock, valued at approximately $70,423,823.28. This represents a 5.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Trading Down 0.2%

Carvana stock traded down $0.13 during trading on Monday, reaching $63.64. 6,980,793 shares of the company were exchanged, compared to its average volume of 13,393,684. The stock’s 50 day simple moving average is $69.01 and its two-hundred day simple moving average is $68.48. The company has a market capitalization of $70.03 billion, a P/E ratio of 35.20, a PEG ratio of 1.84 and a beta of 3.55. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. Carvana Co. has a 52-week low of $54.46 and a 52-week high of $97.38.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.03. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the prior year, the business earned $1.51 EPS. The firm’s quarterly revenue was up 52.4% on a year-over-year basis. On average, equities research analysts expect that Carvana Co. will post 1.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on CVNA. Zacks Research cut shares of Carvana from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Hovde Group boosted their target price on shares of Carvana from $39.50 to $48.00 and gave the company a “market perform” rating in a report on Tuesday, August 4th. Jefferies Financial Group set a $88.00 price target on shares of Carvana and gave the company a “buy” rating in a research note on Tuesday, September 29th. Oppenheimer set a $90.00 price target on shares of Carvana and gave the company an “outperform” rating in a research report on Wednesday, September 30th. Finally, UBS Group reaffirmed a “buy” rating and set a $83.00 price target on shares of Carvana in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.30.

Institutional Trading of Carvana

Institutional investors and hedge funds have recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB lifted its position in Carvana by 12.0% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,950 shares of the company’s stock valued at $122,000 after buying an additional 209 shares during the last quarter. CX Institutional boosted its stake in Carvana by 24.6% during the third quarter. CX Institutional now owns 4,246 shares of the company’s stock worth $266,000 after buying an additional 837 shares during the period. Versant Capital Management Inc increased its position in shares of Carvana by 7.3% during the third quarter. Versant Capital Management Inc now owns 2,660 shares of the company’s stock valued at $166,000 after acquiring an additional 180 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Carvana by 490.1% during the second quarter. QRG Capital Management Inc. now owns 68,545 shares of the company’s stock valued at $4,512,000 after acquiring an additional 56,930 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Carvana by 422.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 472,281 shares of the company’s stock valued at $31,086,000 after acquiring an additional 381,808 shares during the period. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Company Profile

Carvana Co is an online used-car retailer that enables customers to research, purchase, finance, trade in and sell vehicles through its digital platform. The company’s services are designed to allow customers to complete much of the vehicle-buying process online, including selecting a vehicle, arranging financing, completing documentation and scheduling delivery or pickup.

Carvana offers a broad selection of used cars, trucks and sport utility vehicles. Its platform includes vehicle listings with photographs and inspection information, while its operations support vehicle reconditioning, logistics and customer delivery.