Insider Selling: Carvana Co. (NYSE:CVNA) CFO Sells 55,000 Shares of Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 55,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $124.08, for a total value of $6,824,400.00. Following the completion of the sale, the chief financial officer now directly owns 186,580 shares of the company’s stock, valued at approximately $23,150,846.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Carvana Price Performance

Shares of NYSE:CVNA opened at $127.70 on Thursday. The business’s fifty day moving average price is $110.88 and its two-hundred day moving average price is $80.08. Carvana Co. has a fifty-two week low of $23.43 and a fifty-two week high of $136.92. The stock has a market capitalization of $25.87 billion, a price-to-earnings ratio of 56.01 and a beta of 3.37.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $2.72 billion. Research analysts expect that Carvana Co. will post -0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Carvana

A number of institutional investors and hedge funds have recently bought and sold shares of CVNA. Parallel Advisors LLC increased its holdings in Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after purchasing an additional 194 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Carvana by 127.9% in the 2nd quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock valued at $59,000 after purchasing an additional 257 shares during the period. Diversified Trust Co increased its stake in Carvana by 6.0% during the 4th quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock worth $300,000 after purchasing an additional 319 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Carvana by 21.2% in the first quarter. Lazard Asset Management LLC now owns 1,866 shares of the company’s stock valued at $163,000 after buying an additional 326 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Carvana by 11.9% during the first quarter. Sequoia Financial Advisors LLC now owns 4,687 shares of the company’s stock worth $412,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CVNA shares. William Blair reiterated an “outperform” rating on shares of Carvana in a research note on Thursday, May 2nd. JPMorgan Chase & Co. increased their price objective on Carvana from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. JMP Securities boosted their target price on shares of Carvana from $135.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Friday, June 7th. Wells Fargo & Company increased their price target on shares of Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Finally, TD Cowen increased their target price on shares of Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Carvana currently has a consensus rating of “Hold” and a consensus target price of $88.50.

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.