Insider Selling: Carvana Co. (NYSE:CVNA) CFO Sells $6,000,000.00 in Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $300.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 193,459 shares of the company’s stock, valued at approximately $58,037,700. This trade represents a 9.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Carvana Stock Performance

Shares of CVNA stock opened at $299.68 on Monday. The firm has a market cap of $64.17 billion, a price-to-earnings ratio of 190.88 and a beta of 3.61. The company’s 50 day moving average is $220.71 and its 200 day moving average is $230.22. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. Carvana Co. has a 52-week low of $97.55 and a 52-week high of $311.88.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.76. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same period last year, the company posted $0.23 earnings per share. Carvana’s revenue was up 38.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on CVNA. Morgan Stanley upped their price target on Carvana from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday. Evercore ISI lowered their price target on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, March 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $340.00 price target on shares of Carvana in a research report on Thursday, May 8th. Piper Sandler upped their price target on Carvana from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, April 22nd. Finally, Royal Bank of Canada upped their price target on Carvana from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $269.18.

Institutional Investors Weigh In On Carvana

A number of large investors have recently made changes to their positions in the stock. Fred Alger Management LLC grew its holdings in shares of Carvana by 139.7% during the first quarter. Fred Alger Management LLC now owns 33,083 shares of the company’s stock valued at $6,917,000 after buying an additional 19,279 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Carvana by 2.8% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 14,289 shares of the company’s stock valued at $2,988,000 after buying an additional 383 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Carvana by 72.4% during the first quarter. NewEdge Advisors LLC now owns 9,068 shares of the company’s stock valued at $1,896,000 after buying an additional 3,807 shares during the last quarter. Interval Partners LP purchased a new stake in shares of Carvana during the first quarter valued at $340,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Carvana by 55.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 16,496 shares of the company’s stock valued at $3,449,000 after buying an additional 5,906 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.