Insider Selling: Carvana (NYSE:CVNA) CFO Sells 63,750 Shares of Stock

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 63,750 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total value of $4,561,312.50. Following the transaction, the chief financial officer directly owned 1,149,518 shares in the company, valued at $82,248,012.90. The trade was a 5.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Down 1.3%

Shares of CVNA stock traded down $0.95 on Thursday, hitting $73.21. The stock had a trading volume of 5,865,145 shares, compared to its average volume of 14,093,805. The company has a quick ratio of 2.33, a current ratio of 3.93 and a debt-to-equity ratio of 0.94. The business has a 50 day moving average price of $68.51 and a 200 day moving average price of $68.24. The company has a market cap of $80.56 billion, a PE ratio of 40.49, a P/E/G ratio of 2.08 and a beta of 3.49. Carvana Co. has a one year low of $54.46 and a one year high of $97.38.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. The company had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The firm’s quarterly revenue was up 52.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.51 EPS. Research analysts anticipate that Carvana Co. will post 1.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carvana

Large investors have recently modified their holdings of the business. Royal Bank of Canada raised its position in shares of Carvana by 40.8% in the 1st quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock valued at $6,243,000 after purchasing an additional 8,654 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Carvana by 251.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock valued at $53,000 after purchasing an additional 181 shares in the last quarter. Cerity Partners LLC increased its stake in Carvana by 28.8% during the 2nd quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock valued at $1,847,000 after purchasing an additional 1,226 shares in the last quarter. AXA S.A. raised its holdings in shares of Carvana by 340.7% in the second quarter. AXA S.A. now owns 4,253 shares of the company’s stock worth $1,433,000 after buying an additional 3,288 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Carvana by 9.1% in the second quarter. NewEdge Advisors LLC now owns 9,893 shares of the company’s stock worth $3,334,000 after buying an additional 825 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVNA. Jefferies Financial Group cut their price target on Carvana from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. BTIG Research reaffirmed a “buy” rating and set a $87.00 price objective on shares of Carvana in a research report on Tuesday, August 18th. Citigroup reiterated a “market outperform” rating on shares of Carvana in a research note on Monday. Wells Fargo & Company set a $80.00 target price on shares of Carvana and gave the stock an “overweight” rating in a report on Thursday, July 30th. Finally, UBS Group reissued a “buy” rating and set a $83.00 price target on shares of Carvana in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Carvana has an average rating of “Moderate Buy” and a consensus price target of $84.14.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.