Mark W. Jenkins Sells 28,422 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 28,422 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the completion of the sale, the chief financial officer now owns 219,962 shares in the company, valued at $63,536,023.70. This represents a 11.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Carvana Stock Performance

Shares of NYSE:CVNA traded down $0.66 during trading on Tuesday, reaching $284.67. 2,962,977 shares of the stock were exchanged, compared to its average volume of 3,581,500. The firm has a market cap of $59.11 billion, a PE ratio of 28,495.80 and a beta of 3.37. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. Carvana Co. has a 12 month low of $48.15 and a 12 month high of $291.27. The stock has a 50-day moving average price of $233.28 and a 200-day moving average price of $205.34.

Institutional Trading of Carvana

Several institutional investors have recently added to or reduced their stakes in the company. Bleakley Financial Group LLC lifted its holdings in shares of Carvana by 6.0% during the third quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock worth $402,000 after buying an additional 130 shares in the last quarter. Raymond James & Associates raised its stake in Carvana by 28.8% in the 3rd quarter. Raymond James & Associates now owns 13,577 shares of the company’s stock worth $2,364,000 after purchasing an additional 3,033 shares in the last quarter. Chicago Capital LLC bought a new stake in Carvana in the 3rd quarter valued at about $940,000. Sequoia Financial Advisors LLC grew its position in shares of Carvana by 2.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,122 shares of the company’s stock worth $1,066,000 after purchasing an additional 175 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Carvana by 30.9% during the third quarter. Signaturefd LLC now owns 1,842 shares of the company’s stock worth $321,000 after purchasing an additional 435 shares during the period. 56.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CVNA shares. Wells Fargo & Company dropped their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Robert W. Baird increased their target price on Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group lifted their price target on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Evercore ISI increased their price objective on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a report on Tuesday, December 3rd. Finally, Citigroup raised Carvana from a “neutral” rating to a “buy” rating and lifted their target price for the company from $195.00 to $277.00 in a research report on Wednesday, January 8th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $249.29.

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.