Mark Jenkins Sells 12,750 Shares of Carvana (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 12,750 shares of Carvana stock in a transaction on Monday, December 1st. The shares were sold at an average price of $376.07, for a total value of $4,794,892.50. Following the transaction, the chief financial officer owned 204,923 shares in the company, valued at $77,065,392.61. This represents a 5.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Carvana Stock Up 3.3%

Shares of Carvana stock opened at $394.94 on Thursday. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $413.33. The company has a market cap of $85.92 billion, a P/E ratio of 90.17, a P/E/G ratio of 1.38 and a beta of 3.51. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. The stock has a 50-day moving average price of $345.36 and a 200 day moving average price of $344.35.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.Carvana’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. As a group, analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CVNA. Allworth Financial LP raised its stake in shares of Carvana by 10.5% in the 3rd quarter. Allworth Financial LP now owns 1,250 shares of the company’s stock valued at $472,000 after acquiring an additional 119 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new position in Carvana during the third quarter valued at approximately $1,924,000. CIBC Bancorp USA Inc. bought a new position in shares of Carvana in the third quarter valued at approximately $1,644,000. Alpine Global Management LLC bought a new position in shares of Carvana in the third quarter valued at approximately $461,000. Finally, Danske Bank A S acquired a new stake in shares of Carvana in the third quarter worth $18,882,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wedbush upgraded shares of Carvana from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $380.00 to $400.00 in a report on Monday, November 24th. Jefferies Financial Group reissued a “buy” rating on shares of Carvana in a research report on Tuesday, November 25th. Citigroup dropped their target price on Carvana from $490.00 to $445.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $460.00 price target on shares of Carvana in a research note on Thursday, October 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $500.00 price target on shares of Carvana in a research note on Monday, November 17th. Eighteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $422.10.

About Carvana

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.