Insider Selling: Carvana (NYSE:CVNA) CFO Sells $4,794,892.50 in Stock

by · The Markets Daily

Carvana Co. (NYSE:CVNA – Get Free Report) CFO Mark Jenkins sold 12,750 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $376.07, for a total transaction of $4,794,892.50. Following the completion of the sale, the chief financial officer directly owned 204,923 shares of the company’s stock, valued at $77,065,392.61. The trade was a 5.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Carvana Stock Up 1.9%

Shares of CVNA traded up $7.31 on Tuesday, hitting $382.57. The company’s stock had a trading volume of 2,870,243 shares, compared to its average volume of 2,909,360. The firm has a market capitalization of $83.22 billion, a price-to-earnings ratio of 85.68, a P/E/G ratio of 1.36 and a beta of 3.51. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $413.33. The firm’s fifty day moving average price is $344.86 and its 200-day moving average price is $343.41. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63.

Carvana (NYSE:CVNA – Get Free Report) last released its earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter last year, the company posted $0.64 EPS. Carvana’s revenue for the quarter was up 54.5% on a year-over-year basis. On average, equities research analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CVNA. Citigroup lowered their target price on shares of Carvana from $490.00 to $445.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Royal Bank Of Canada restated an “outperform” rating and set a $460.00 price objective on shares of Carvana in a research report on Thursday, October 30th. Wall Street Zen downgraded Carvana from a “buy” rating to a “hold” rating in a report on Sunday, October 19th. UBS Group assumed coverage on Carvana in a research report on Monday. They set a “buy” rating and a $450.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $500.00 price objective on shares of Carvana in a research report on Monday, November 17th. Eighteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $422.10.

Get Our Latest Analysis on CVNA

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CVNA. Allworth Financial LP increased its position in shares of Carvana by 10.5% during the third quarter. Allworth Financial LP now owns 1,250 shares of the company’s stock worth $472,000 after acquiring an additional 119 shares in the last quarter. Polar Asset Management Partners Inc. bought a new stake in Carvana during the 3rd quarter worth approximately $1,924,000. CIBC Bancorp USA Inc. bought a new stake in Carvana during the 3rd quarter worth approximately $1,644,000. Alpine Global Management LLC purchased a new stake in shares of Carvana in the third quarter worth approximately $461,000. Finally, Danske Bank A S bought a new position in shares of Carvana in the third quarter valued at approximately $18,882,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Company Profile

(Get Free Report)

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.

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