Insider Selling: Carvana Co. (NYSE:CVNA) CFO Sells 208,495 Shares of Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 208,495 shares of Carvana stock in a transaction on Monday, November 4th. The stock was sold at an average price of $224.43, for a total transaction of $46,792,532.85. Following the completion of the transaction, the chief financial officer now directly owns 90,732 shares of the company’s stock, valued at approximately $20,362,982.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Carvana Price Performance

NYSE:CVNA traded up $3.25 during mid-day trading on Wednesday, reaching $238.93. 2,944,638 shares of the company were exchanged, compared to its average volume of 4,810,592. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The stock has a market cap of $49.45 billion, a PE ratio of 23,578.00 and a beta of 3.37. Carvana Co. has a 12 month low of $27.75 and a 12 month high of $259.39. The company has a fifty day moving average of $177.23 and a 200 day moving average of $140.97.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the company earned $0.23 earnings per share. Carvana’s revenue for the quarter was up 31.8% compared to the same quarter last year. On average, research analysts anticipate that Carvana Co. will post 0.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Forum Financial Management LP raised its stake in shares of Carvana by 3.8% during the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after buying an additional 76 shares during the last quarter. Empirical Asset Management LLC grew its holdings in Carvana by 2.0% during the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock worth $890,000 after acquiring an additional 100 shares during the period. CIBC Asset Management Inc raised its position in shares of Carvana by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,366 shares of the company’s stock valued at $586,000 after acquiring an additional 115 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Carvana by 6.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock valued at $402,000 after purchasing an additional 130 shares during the period. Finally, CWM LLC boosted its position in shares of Carvana by 19.5% in the 2nd quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after purchasing an additional 144 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

CVNA has been the subject of several research reports. BTIG Research lifted their price target on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Piper Sandler upped their price objective on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Wedbush boosted their price target on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $110.00 to $260.00 in a report on Tuesday. Finally, Evercore ISI raised their price target on shares of Carvana from $186.00 to $190.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $217.71.

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.