Insider Selling: Carvana Co. (NYSE:CVNA) CFO Sells 55,000 Shares of Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 55,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $124.08, for a total transaction of $6,824,400.00. Following the sale, the chief financial officer now directly owns 186,580 shares in the company, valued at approximately $23,150,846.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Carvana Stock Performance

NYSE:CVNA traded up $0.17 during trading hours on Wednesday, reaching $127.70. The company’s stock had a trading volume of 1,567,467 shares, compared to its average volume of 5,640,269. The firm has a market capitalization of $25.87 billion, a price-to-earnings ratio of 55.94 and a beta of 3.37. The firm has a 50-day simple moving average of $109.83 and a 200-day simple moving average of $79.75. Carvana Co. has a 1 year low of $23.43 and a 1 year high of $136.92.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.72 billion. Equities analysts anticipate that Carvana Co. will post -0.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on CVNA shares. JPMorgan Chase & Co. boosted their price objective on Carvana from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Robert W. Baird upped their price target on shares of Carvana from $65.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. TD Cowen lifted their price objective on Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Jefferies Financial Group upgraded Carvana from an “underperform” rating to a “hold” rating and upped their target price for the stock from $30.00 to $85.00 in a research note on Tuesday, March 12th. Finally, Wells Fargo & Company lifted their price target on Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Carvana currently has an average rating of “Hold” and an average target price of $88.50.

Hedge Funds Weigh In On Carvana

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. purchased a new stake in shares of Carvana during the fourth quarter valued at approximately $29,000. Parallel Advisors LLC boosted its position in Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after buying an additional 194 shares during the period. Tidemark LLC purchased a new stake in Carvana during the 4th quarter valued at $50,000. Plato Investment Management Ltd purchased a new position in shares of Carvana in the first quarter valued at about $55,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Carvana by 127.9% during the second quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock worth $59,000 after purchasing an additional 257 shares during the period. 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.