Insider Selling: Carvana Co. (NYSE:CVNA) CFO Sells 55,000 Shares of Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 55,000 shares of Carvana stock in a transaction on 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 transaction, the chief financial officer now directly owns 216,523 shares of the company’s stock, valued at $18,553,855.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Carvana Trading Up 4.4 %

Shares of NYSE:CVNA opened at $121.67 on Friday. Carvana Co. has a 1-year low of $6.92 and a 1-year high of $124.20. The stock has a market capitalization of $24.57 billion, a P/E ratio of 53.36 and a beta of 3.28. The business has a 50-day moving average price of $81.81 and a two-hundred day moving average price of $55.88.

Carvana (NYSE:CVNA) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the company posted ($0.97) EPS. Carvana’s revenue for the quarter was down 14.6% compared to the same quarter last year. As a group, equities analysts predict that Carvana Co. will post -3.32 EPS for the current year.

Institutional Trading of Carvana

Several institutional investors and hedge funds have recently made changes to their positions in CVNA. Exchange Traded Concepts LLC grew its stake in shares of Carvana by 59.8% during the third quarter. Exchange Traded Concepts LLC now owns 2,687 shares of the company’s stock worth $113,000 after purchasing an additional 1,006 shares during the period. Handelsbanken Fonder AB boosted its holdings in Carvana by 12.3% during the third quarter. Handelsbanken Fonder AB now owns 19,200 shares of the company’s stock worth $806,000 after buying an additional 2,100 shares during the last quarter. Xponance Inc. acquired a new position in shares of Carvana during the 3rd quarter worth about $240,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Carvana by 20.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,324 shares of the company’s stock valued at $769,000 after acquiring an additional 3,115 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in shares of Carvana in the 3rd quarter valued at approximately $236,000. Institutional investors own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CVNA. Wells Fargo & Company lifted their price target on shares of Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a report on Thursday. William Blair reiterated an “outperform” rating on shares of Carvana in a research note on Thursday. TD Cowen increased their price target on Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. raised Carvana from a “neutral” rating to an “overweight” rating and raised their price target for the company from $70.00 to $130.00 in a report on Thursday. Finally, Raymond James raised Carvana from an “underperform” rating to a “market perform” rating in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.