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

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 12,750 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $323.35, for a total value of $4,122,712.50. Following the completion of the transaction, the chief financial officer owned 206,142 shares in the company, valued at $66,656,015.70. The trade was a 5.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Carvana Trading Down 6.7%

CVNA traded down $22.42 during mid-day trading on Tuesday, reaching $309.91. The stock had a trading volume of 3,851,037 shares, compared to its average volume of 3,857,016. The firm’s fifty day simple moving average is $362.00 and its two-hundred day simple moving average is $332.73. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. The stock has a market capitalization of $66.69 billion, a P/E ratio of 70.76, a P/E/G ratio of 1.04 and a beta of 3.50. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33.

Carvana (NYSE:CVNA) last released its 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 firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company posted $0.64 EPS. On average, equities analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Wall Street Analysts Forecast Growth

CVNA has been the subject of several analyst reports. Gordon Haskett assumed coverage on Carvana in a report on Monday, July 14th. They issued a “hold” rating and a $329.00 price objective for the company. Wall Street Zen cut Carvana from a “buy” rating to a “hold” rating in a report on Sunday, October 19th. Needham & Company LLC reiterated a “buy” rating and set a $500.00 price target on shares of Carvana in a report on Thursday, October 30th. Piper Sandler upped their price objective on shares of Carvana from $340.00 to $440.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Finally, DA Davidson set a $360.00 target price on shares of Carvana in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $415.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SJS Investment Consulting Inc. grew its stake in shares of Carvana by 28.3% in the third quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock worth $51,000 after purchasing an additional 30 shares during the last quarter. Warren Street Wealth Advisors LLC grew its stake in shares of Carvana by 2.8% in the second quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company’s stock worth $388,000 after purchasing an additional 31 shares during the last quarter. MAI Capital Management lifted its holdings in Carvana by 1.8% in the second quarter. MAI Capital Management now owns 1,757 shares of the company’s stock valued at $592,000 after buying an additional 31 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in Carvana by 23.1% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 165 shares of the company’s stock valued at $62,000 after buying an additional 31 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC lifted its holdings in Carvana by 1.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock valued at $622,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.