Mark W. Jenkins Sells 55,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 55,000 shares of Carvana stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $85.69, for a total value of $4,712,950.00. Following the completion of the transaction, the chief financial officer now owns 216,523 shares of the company’s stock, valued at $18,553,855.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Carvana Stock Performance

CVNA opened at $121.67 on Friday. The company has a market capitalization of $24.57 billion, a PE ratio of 53.36 and a beta of 3.28. The stock’s fifty day moving average is $81.81 and its 200-day moving average is $55.88. Carvana Co. has a one year low of $6.92 and a one year high of $124.20.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the business posted ($0.97) EPS. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, equities research analysts forecast that Carvana Co. will post -3.32 EPS for the current fiscal year.

Institutional Trading of Carvana

A number of large investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC boosted its stake in shares of Carvana by 59.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,687 shares of the company’s stock worth $113,000 after acquiring an additional 1,006 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Carvana by 12.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 19,200 shares of the company’s stock worth $806,000 after purchasing an additional 2,100 shares in the last quarter. Xponance Inc. purchased a new position in Carvana in the 3rd quarter worth about $240,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Carvana by 20.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,324 shares of the company’s stock worth $769,000 after buying an additional 3,115 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in Carvana during the third quarter valued at about $236,000. 56.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CVNA has been the subject of a number of recent research reports. Robert W. Baird upped their price objective on Carvana from $65.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday. TD Cowen upped their price target on shares of Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Morgan Stanley lifted their price objective on shares of Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, February 26th. William Blair restated an “outperform” rating on shares of Carvana in a research report on Thursday. Finally, JPMorgan Chase & Co. raised Carvana from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $130.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Carvana presently has an average rating of “Hold” and a consensus price target of $73.44.

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.