Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins Sells 20,000 Shares

by · The Markets Daily

Carvana Co. (NYSE:CVNA – Get Free Report) CFO Mark W. Jenkins sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $241.78, for a total value of $4,835,600.00. Following the completion of the sale, the chief financial officer now directly owns 170,732 shares in the company, valued at approximately $41,279,582.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Carvana Stock Up 1.4 %

NYSE:CVNA traded up $3.25 during trading hours on Wednesday, reaching $238.93. The company’s stock had a trading volume of 2,944,638 shares, compared to its average volume of 4,810,592. The business’s 50-day moving average is $177.23 and its 200-day moving average is $140.97. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. Carvana Co. has a one year low of $27.75 and a one year high of $259.39. The company has a market cap of $49.45 billion, a price-to-earnings ratio of 23,578.00 and a beta of 3.37.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CVNA. Natixis Advisors LLC raised its holdings in Carvana by 2.6% during the 3rd quarter. Natixis Advisors LLC now owns 80,885 shares of the company’s stock worth $14,083,000 after purchasing an additional 2,054 shares during the last quarter. Empowered Funds LLC bought a new position in Carvana in the third quarter valued at approximately $494,000. CIBC Asset Management Inc boosted its holdings in shares of Carvana by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,366 shares of the company’s stock valued at $586,000 after buying an additional 115 shares during the period. Diversified Portfolios Inc. raised its stake in shares of Carvana by 20.7% in the 3rd quarter. Diversified Portfolios Inc. now owns 3,832 shares of the company’s stock valued at $667,000 after purchasing an additional 657 shares during the period. Finally, KBC Group NV grew its position in Carvana by 23.1% in the third quarter. KBC Group NV now owns 2,866 shares of the company’s stock valued at $499,000 after purchasing an additional 538 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CVNA. Royal Bank of Canada raised Carvana to a “sector perform” rating and increased their price objective for the company from $166.00 to $170.00 in a research note on Monday, August 19th. Bank of America boosted their price target on Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Piper Sandler lifted their price target on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on shares of Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Robert W. Baird boosted their target price on shares of Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Carvana currently has an average rating of “Hold” and a consensus price target of $217.71.

View Our Latest Analysis on Carvana

Carvana Company Profile

(Get Free Report)

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.

Featured Stories