Insider Selling: Carvana Co. (NYSE:CVNA) CFO Sells 10,000 Shares of Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $255.07, for a total transaction of $2,550,700.00. Following the completion of the sale, the chief financial officer now owns 189,761 shares of the company’s stock, valued at approximately $48,402,338.27. This trade represents a 5.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Carvana Trading Up 0.2 %

CVNA stock traded up $0.60 during midday trading on Tuesday, reaching $255.54. The company’s stock had a trading volume of 1,653,271 shares, compared to its average volume of 2,362,707. The business’s 50-day simple moving average is $214.99 and its 200-day simple moving average is $160.59. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The stock has a market cap of $53.06 billion, a PE ratio of 25,601.60 and a beta of 3.32. Carvana Co. has a 52 week low of $36.53 and a 52 week high of $268.34.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. The company’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 EPS. As a group, sell-side analysts expect that Carvana Co. will post 0.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CVNA. Piper Sandler lifted their price objective on shares of Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $110.00 to $260.00 in a report on Tuesday, November 5th. Needham & Company LLC increased their target price on shares of Carvana from $200.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JMP Securities increased their price objective on Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Finally, Evercore ISI boosted their price target on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a report on Tuesday. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $220.94.

Institutional Trading of Carvana

A number of institutional investors have recently modified their holdings of the company. Ridgewood Investments LLC acquired a new position in shares of Carvana during the 2nd quarter worth approximately $32,000. Sugarloaf Wealth Management LLC acquired a new stake in shares of Carvana in the third quarter valued at approximately $32,000. Summit Securities Group LLC lifted its holdings in Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Carvana in the third quarter valued at about $40,000. Finally, Fifth Third Bancorp boosted its holdings in shares of Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after buying an additional 275 shares during the period. 56.71% of the stock is currently owned by 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.