Insider Selling: Carvana Co. (NYSE:CVNA) CFO Sells 10,000 Shares of Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total value of $2,007,500.00. Following the transaction, the chief financial officer now owns 189,097 shares in the company, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Carvana Price Performance

CVNA opened at $177.16 on Friday. The company’s 50-day simple moving average is $236.67 and its two-hundred day simple moving average is $180.94. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The stock has a market capitalization of $36.78 billion, a P/E ratio of 17,733.73 and a beta of 3.32. Carvana Co. has a 52-week low of $40.21 and a 52-week high of $268.34.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter last year, the company earned $0.23 EPS. The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. As a group, analysts predict that Carvana Co. will post 0.76 EPS for the current year.

Hedge Funds Weigh In On Carvana

A number of institutional investors and hedge funds have recently modified their holdings of CVNA. FMR LLC lifted its holdings in Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after acquiring an additional 5,882,656 shares during the period. Lingotto Investment Management LLP increased its position in shares of Carvana by 1.4% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock valued at $486,143,000 after purchasing an additional 52,833 shares during the last quarter. State Street Corp lifted its stake in shares of Carvana by 6.1% in the 3rd quarter. State Street Corp now owns 1,877,511 shares of the company’s stock worth $326,893,000 after purchasing an additional 107,610 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Carvana by 7.8% in the third quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock worth $315,133,000 after buying an additional 131,059 shares during the last quarter. Finally, Whale Rock Capital Management LLC bought a new stake in Carvana during the third quarter valued at approximately $162,953,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVNA has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price objective on Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Needham & Company LLC lifted their price target on shares of Carvana from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Stephens restated an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a report on Thursday. Robert W. Baird lifted their target price on shares of Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, JMP Securities restated a “market outperform” rating and issued a $320.00 price target on shares of Carvana in a research note on Monday, December 16th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Carvana has an average rating of “Hold” and a consensus price target of $229.18.

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.