Mark W. Jenkins Sells 10,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 189,097 shares in the company, valued at $37,961,222.75. This represents a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Carvana Stock Down 11.2 %

Shares of CVNA opened at $177.16 on Friday. The stock has a 50 day moving average price of $236.67 and a 200 day moving average price of $180.45. 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 price-to-earnings ratio of 17,733.73 and a beta of 3.32. Carvana Co. has a one year low of $40.21 and a one year high of $268.34.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Piper Sandler raised their target price on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company lifted their target price on shares of Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Wedbush boosted their target price on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. raised their price target on shares of Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group upped their price objective on shares of Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $229.18.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CVNA. Sugarloaf Wealth Management LLC purchased a new stake in shares of Carvana in the third quarter valued at approximately $32,000. Capital Performance Advisors LLP acquired a new position in Carvana during the third quarter worth $40,000. Versant Capital Management Inc purchased a new stake in Carvana in the 4th quarter valued at $42,000. First Horizon Advisors Inc. increased its stake in shares of Carvana by 363.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock worth $44,000 after acquiring an additional 196 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of Carvana during the 2nd quarter worth $51,000. 56.71% of the stock is 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.