Mark W. Jenkins Sells 208,495 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 208,495 shares of Carvana stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $224.43, for a total value of $46,792,532.85. Following the transaction, the chief financial officer now owns 90,732 shares of the company’s stock, valued at $20,362,982.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Carvana Stock Performance

Shares of CVNA stock opened at $241.44 on Friday. The company’s fifty day simple moving average is $180.75 and its 200-day simple moving average is $142.34. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. Carvana Co. has a 52 week low of $27.75 and a 52 week high of $259.39. The company has a market cap of $49.96 billion, a PE ratio of 24,168.17 and a beta of 3.37.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Carvana’s quarterly revenue was up 31.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 EPS. As a group, equities research analysts anticipate that Carvana Co. will post 0.53 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CVNA shares. JMP Securities boosted their price target on Carvana from $200.00 to $320.00 and gave the stock a “market outperform” 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 stock an “overweight” rating in a research note on Wednesday, October 23rd. Wedbush increased their price target on Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Piper Sandler lifted their price objective on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, TD Cowen upped their target price on Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Carvana presently has an average rating of “Hold” and a consensus price target of $217.71.

Institutional Trading of Carvana

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

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.