Carvana Co. (NYSE:CVNA) CFO Sells $2,550,700.00 in Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $255.07, for a total value of $2,550,700.00. Following the transaction, the chief financial officer now owns 189,761 shares in the company, valued at $48,402,338.27. This represents a 5.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Carvana Trading Up 0.2 %

Shares of NYSE CVNA opened at $255.54 on Wednesday. The stock has a fifty day simple moving average of $214.99 and a 200-day simple moving average of $160.59. Carvana Co. has a twelve month low of $36.53 and a twelve month high of $268.34. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The stock has a market capitalization of $53.06 billion, a PE ratio of 25,579.58 and a beta of 3.32.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same quarter last year, the company earned $0.23 earnings per share. On average, equities analysts forecast that Carvana Co. will post 0.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVNA. Piper Sandler increased their target price on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group boosted their target price on shares of Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Needham & Company LLC raised their price target on shares of Carvana from $200.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company increased their price objective on Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, JMP Securities lifted their target price on shares of Carvana from $200.00 to $320.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $220.94.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CVNA. Ridgewood Investments LLC acquired a new position in shares of Carvana during the second quarter worth about $32,000. Sugarloaf Wealth Management LLC acquired a new position in Carvana during the 3rd quarter worth approximately $32,000. Summit Securities Group LLC increased its position in shares of Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Carvana in the 3rd quarter valued at $40,000. Finally, Fifth Third Bancorp grew its stake in shares of Carvana by 450.8% during the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

About Carvana

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.