Insider Selling: Carvana Co. (NYSE:CVNA) CFO Sells 20,000 Shares of Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 20,000 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $275.68, for a total transaction of $5,513,600.00. Following the completion of the transaction, the chief financial officer now owns 199,962 shares of the company’s stock, valued at $55,125,524.16. This represents a 9.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Carvana Trading Down 0.2 %

Carvana stock traded down $0.66 during midday trading on Tuesday, reaching $284.67. The stock had a trading volume of 2,962,977 shares, compared to its average volume of 3,581,500. The firm’s fifty day simple moving average is $233.28 and its two-hundred day simple moving average is $205.34. 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 twelve month low of $48.15 and a twelve month high of $291.27. The firm has a market cap of $59.11 billion, a price-to-earnings ratio of 28,495.80 and a beta of 3.37.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price objective on shares of Carvana in a report on Tuesday, January 7th. Robert W. Baird increased their price target on Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Citigroup upgraded Carvana from a “neutral” rating to a “buy” rating and lifted their price target for the company from $195.00 to $277.00 in a research report on Wednesday, January 8th. Piper Sandler upped their price objective on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $110.00 to $260.00 in a report on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $249.29.

Institutional Trading of Carvana

Several hedge funds and other institutional investors have recently modified their holdings of the business. Quent Capital LLC purchased a new stake in Carvana in the 4th quarter worth about $28,000. Global Retirement Partners LLC increased its holdings in shares of Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares during the period. Rialto Wealth Management LLC acquired a new position in shares of Carvana in the 4th quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new stake in shares of Carvana in the fourth quarter worth approximately $34,000. Finally, Versant Capital Management Inc purchased a new position in Carvana during the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.