Jefferies Financial Group Inc. Sells 9,628 Shares of Carvana Co. $CVNA

Jefferies Financial Group Inc. trimmed its stake in shares of Carvana Co. (NYSE:CVNA) by 65.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,070 shares of the company’s stock after selling 9,628 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Carvana were worth $334,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Farmers & Merchants Investments Inc. bought a new position in shares of Carvana during the 4th quarter worth approximately $29,000. Motiv8 Investments LLC acquired a new position in Carvana during the fourth quarter worth $33,000. Ascentis Independent Advisors acquired a new position in Carvana during the first quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Carvana by 152.6% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after acquiring an additional 58 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Carvana during the second quarter valued at $38,000. 56.71% of the stock is currently owned by institutional investors.

Insider Activity

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $64.50, for a total transaction of $3,225,000.00. Following the completion of the sale, the chief operating officer owned 535,709 shares in the company, valued at approximately $34,553,230.50. The trade was a 8.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark W. Jenkins sold 63,750 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $64.50, for a total value of $4,111,875.00. Following the completion of the transaction, the chief financial officer directly owned 1,156,534 shares in the company, valued at approximately $74,596,443. This trade represents a 5.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 302,147 shares of company stock worth $20,418,064. Corporate insiders own 15.19% of the company’s stock.

Carvana Stock Down 0.8%

Shares of NYSE CVNA opened at $73.48 on Tuesday. The firm has a market capitalization of $80.86 billion, a PE ratio of 40.64, a price-to-earnings-growth ratio of 2.69 and a beta of 3.46. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94. Carvana Co. has a 1 year low of $54.46 and a 1 year high of $97.38. The firm’s 50-day moving average is $68.24 and its 200-day moving average is $68.27.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CVNA shares. Jefferies Financial Group lowered their target price on shares of Carvana from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. Evercore set a $75.00 price target on shares of Carvana in a research report on Thursday, July 30th. Morgan Stanley set a $90.00 price objective on shares of Carvana and gave the stock an “overweight” rating in a report on Thursday, July 30th. UBS Group reiterated a “buy” rating and issued a $83.00 target price on shares of Carvana in a research note on Friday, July 31st. Finally, Zacks Research downgraded Carvana from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $84.14.

Carvana 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.