Carvana Co. (NYSE:CVNA) CFO Sells $6,824,400.00 in Stock

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

Carvana Stock Up 0.1 %

Shares of CVNA traded up $0.17 during midday trading on Wednesday, reaching $127.70. The company had a trading volume of 1,567,467 shares, compared to its average volume of 5,640,269. Carvana Co. has a 1-year low of $23.43 and a 1-year high of $136.92. The firm has a 50 day simple moving average of $109.83 and a 200-day simple moving average of $79.75. The stock has a market cap of $25.87 billion, a PE ratio of 55.94 and a beta of 3.37.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.35. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.72 billion. As a group, sell-side analysts anticipate that Carvana Co. will post -0.75 earnings per share for the current fiscal year.

Institutional Trading of Carvana

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Carvana by 127.9% in the second quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock worth $59,000 after acquiring an additional 257 shares during the period. Blue Trust Inc. acquired a new position in shares of Carvana in the 4th quarter valued at $29,000. Plato Investment Management Ltd purchased a new position in shares of Carvana during the 1st quarter worth $55,000. Parallel Advisors LLC increased its position in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares during the last quarter. Finally, Tidemark LLC purchased a new stake in Carvana in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wedbush restated a “neutral” rating and issued a $120.00 price objective on shares of Carvana in a research report on Wednesday, June 26th. Robert W. Baird upped their price objective on shares of Carvana from $65.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their target price on shares of Carvana from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. TD Cowen boosted their target price on shares of Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Finally, Wells Fargo & Company raised their price target on shares of Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $88.50.

Carvana Company Profile

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.