Mark Jenkins Sells 63,750 Shares of Carvana (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) CFO Mark Jenkins sold 63,750 shares of Carvana stock in a transaction on Monday, June 1st. The shares were sold at an average price of $70.40, for a total value of $4,488,000.00. Following the completion of the sale, the chief financial officer owned 1,036,594 shares in the company, valued at $72,976,217.60. This represents a 5.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Price Performance

NYSE:CVNA opened at $66.31 on Friday. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38. The company has a quick ratio of 2.57, a current ratio of 4.09 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $72.73 billion, a P/E ratio of 40.33, a P/E/G ratio of 10.74 and a beta of 3.45. The stock’s fifty day moving average is $70.37 and its two-hundred day moving average is $75.07.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.12 billion. Equities analysts expect that Carvana Co. will post 1.58 EPS for the current year.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently modified their holdings of CVNA. Ascentis Independent Advisors acquired a new position in Carvana during the 1st quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Carvana during the 4th quarter worth $29,000. Farmers & Merchants Investments Inc. acquired a new position in Carvana during the 4th quarter worth $29,000. Annis Gardner Whiting Capital Advisors LLC grew its stake in Carvana by 152.6% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after purchasing an additional 58 shares in the last quarter. Finally, Motiv8 Investments LLC acquired a new position in Carvana during the 4th quarter worth $33,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Evercore lifted their price objective on Carvana from $78.00 to $80.00 in a research note on Tuesday, April 28th. Stephens lifted their price objective on Carvana from $86.00 to $97.00 in a research note on Thursday, April 30th. Needham & Company LLC lifted their price objective on Carvana from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Citigroup reaffirmed an “outperform” rating on shares of Carvana in a research note on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $107.40 price objective on shares of Carvana in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and an average price target of $93.14.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.