Mark W. Jenkins Sells 10,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the completion of the sale, the chief financial officer now owns 189,097 shares of the company’s stock, valued at approximately $37,961,222.75. The trade was a 5.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Carvana Stock Down 11.2 %

Shares of NYSE CVNA opened at $177.16 on Monday. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. Carvana Co. has a 1 year low of $40.21 and a 1 year high of $268.34. The stock’s 50-day simple moving average is $236.67 and its 200-day simple moving average is $181.43. The firm has a market cap of $36.78 billion, a price-to-earnings ratio of 17,733.73 and a beta of 3.38.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of Carvana by 90.8% during the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after purchasing an additional 5,882,656 shares during the last quarter. Whale Rock Capital Management LLC acquired a new position in shares of Carvana in the 3rd quarter worth approximately $162,953,000. Sylebra Capital LLC acquired a new position in shares of Carvana in the 2nd quarter worth approximately $67,686,000. Lord Abbett & CO. LLC increased its holdings in shares of Carvana by 1,454.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock valued at $93,754,000 after acquiring an additional 503,824 shares during the last quarter. Finally, Senator Investment Group LP acquired a new stake in shares of Carvana during the 2nd quarter valued at approximately $63,767,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CVNA shares. Jefferies Financial Group increased their target price on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Piper Sandler boosted their target price on shares of Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and set a $320.00 price target on shares of Carvana in a research note on Monday, December 16th. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $110.00 to $260.00 in a report on Tuesday, November 5th. Finally, Evercore ISI lifted their target price on Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $229.18.

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.