Insider Selling: Carvana Co. (NYSE:CVNA) CFO Sells 28,422 Shares of Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 28,422 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the completion of the transaction, the chief financial officer now owns 219,962 shares in the company, valued at $63,536,023.70. This represents a 11.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Carvana Trading Down 1.4 %

Shares of NYSE CVNA opened at $280.68 on Thursday. Carvana Co. has a 1 year low of $48.15 and a 1 year high of $292.84. The firm has a 50-day moving average of $234.84 and a 200 day moving average of $206.90. The stock has a market cap of $58.28 billion, a P/E ratio of 28,096.50 and a beta of 3.37. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. As a group, sell-side analysts expect that Carvana Co. will post 0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently modified their holdings of CVNA. Fidelis Capital Partners LLC boosted its stake in Carvana by 3.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after purchasing an additional 51 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Carvana by 2.8% in the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock worth $483,000 after buying an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Carvana by 21.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock valued at $87,000 after acquiring an additional 74 shares in the last quarter. Forum Financial Management LP raised its holdings in Carvana by 3.8% in the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after acquiring an additional 76 shares during the last quarter. Finally, Great Lakes Advisors LLC raised its holdings in Carvana by 2.1% in the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock worth $752,000 after acquiring an additional 77 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVNA. Wells Fargo & Company cut their price target on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Stephens restated an “overweight” rating and set a $300.00 price target on shares of Carvana in a report on Thursday, February 6th. Royal Bank of Canada raised Carvana from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $270.00 to $280.00 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lifted their price objective on Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Wedbush restated a “neutral” rating and set a $250.00 target price on shares of Carvana in a report on Thursday, February 6th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Carvana has an average rating of “Moderate Buy” and an average price target of $249.29.

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.