Insider Selling: Carvana Co. (NYSE:CVNA) CFO Sells 43,433 Shares of Stock

Carvana Co. (NYSE:CVNA - Get Free Report) CFO Mark W. Jenkins sold 43,433 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $209.27, for a total value of $9,089,223.91. Following the transaction, the chief financial officer now directly owns 214,678 shares in the company, valued at approximately $44,925,665.06. This represents a 16.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Carvana Stock Up 5.0 %

Carvana stock traded up $8.12 during midday trading on Monday, hitting $170.69. 1,192,279 shares of the company were exchanged, compared to its average volume of 4,678,096. The company has a market cap of $36.38 billion, a PE ratio of 108.70 and a beta of 3.61. Carvana Co. has a fifty-two week low of $67.61 and a fifty-two week high of $292.84. The company's fifty day moving average price is $223.47 and its 200-day moving average price is $219.76. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. On average, research analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Remove Ads

Hedge Funds Weigh In On Carvana

A number of institutional investors have recently added to or reduced their stakes in the company. Quent Capital LLC purchased a new position in shares of Carvana during the 4th quarter valued at approximately $28,000. Global Retirement Partners LLC boosted its stake in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Rialto Wealth Management LLC acquired a new position in Carvana during the 4th quarter worth $31,000. ORG Wealth Partners LLC bought a new stake in shares of Carvana in the 4th quarter worth about $34,000. Finally, Versant Capital Management Inc acquired a new stake in shares of Carvana in the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Wall Street Analyst Weigh In

CVNA has been the subject of a number of research analyst reports. JMP Securities reaffirmed a "market outperform" rating and set a $320.00 price objective on shares of Carvana in a research note on Monday, December 16th. Morgan Stanley raised shares of Carvana from an "underweight" rating to an "overweight" rating in a research report on Monday, March 31st. Stephens reissued an "overweight" rating and set a $300.00 price objective on shares of Carvana in a research note on Monday, March 3rd. JPMorgan Chase & Co. dropped their price objective on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Finally, Wedbush set a $250.00 target price on Carvana and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $258.59.

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.