Carvana (NYSE:CVNA) CFO Mark Jenkins Sells 63,750 Shares of Stock

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 63,750 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $64.50, for a total transaction of $4,111,875.00. Following the sale, the chief financial officer directly owned 1,156,534 shares in the company, valued at approximately $74,596,443. The trade was a 5.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Performance

Shares of CVNA stock opened at $67.91 on Wednesday. The company has a 50 day moving average price of $66.77 and a 200-day moving average price of $70.27. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38. The firm has a market capitalization of $74.49 billion, a PE ratio of 37.56, a P/E/G ratio of 2.44 and a beta of 3.46. The company has a quick ratio of 2.33, a current ratio of 3.93 and a debt-to-equity ratio of 0.94.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The company had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the firm earned $1.51 earnings per share. The firm’s revenue for the quarter was up 52.4% compared to the same quarter last year. As a group, equities research analysts expect that Carvana Co. will post 1.65 earnings per share for the current year.

More Carvana News

Here are the key news stories impacting Carvana this week:

• Positive Sentiment: Director Michael E. Maroone purchased 25,000 shares worth approximately $1.55 million, increasing his direct ownership by 17.41%. The purchase may signal confidence in Carvana’s long-term prospects. SEC insider purchase filing

Institutional Investors Weigh In On Carvana

A number of hedge funds have recently modified their holdings of the business. Sands Capital Management LLC raised its stake in shares of Carvana by 44.4% in the fourth quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company’s stock worth $1,030,798,000 after buying an additional 751,019 shares during the period. Capricorn Fund Managers Ltd bought a new position in shares of Carvana during the 1st quarter valued at approximately $29,866,000. Gavilan Investment Partners LLC increased its holdings in Carvana by 24.6% in the 4th quarter. Gavilan Investment Partners LLC now owns 86,000 shares of the company’s stock worth $36,294,000 after acquiring an additional 17,000 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Carvana by 239.6% in the 4th quarter. Hsbc Holdings PLC now owns 221,727 shares of the company’s stock worth $93,748,000 after acquiring an additional 156,430 shares in the last quarter. Finally, Swiss National Bank raised its stake in Carvana by 9.9% during the 1st quarter. Swiss National Bank now owns 395,180 shares of the company’s stock worth $124,237,000 after acquiring an additional 35,720 shares during the period. Institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Stephens raised their price target on Carvana from $86.00 to $97.00 in a research note on Thursday, April 30th. JPMorgan Chase & Co. upped their price objective on Carvana from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Needham & Company LLC reissued a “buy” rating and issued a $120.00 target price on shares of Carvana in a report on Thursday, July 30th. Wells Fargo & Company set a $80.00 target price on Carvana and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Finally, UBS Group restated a “buy” rating and set a $83.00 price target on shares of Carvana in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and an average target price of $84.14.

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.