Insider Selling: Carvana Co. (NYSE:CVNA) CFO Sells $396,850.00 in Stock (2024)

Carvana Co. (NYSE:CVNA – Get Free Report) CFO Mark W. Jenkins sold 5,000 shares of Carvana stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $79.37, for a total value of $396,850.00. Following the sale, the chief financial officer now directly owns 183,156 shares in the company, valued at $14,537,091.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Carvana Stock Performance

NYSE CVNA opened at $86.43 on Thursday. The stock has a fifty day moving average of $59.10 and a 200-day moving average of $47.00. The stock has a market capitalization of $17.45 billion, a P/E ratio of 160.06 and a beta of 3.32. Carvana Co. has a 52 week low of $6.70 and a 52 week high of $90.48.

Carvana (NYSE:CVNA – Get Free Report) last released its 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 firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.97) earnings per share. Equities research analysts forecast that Carvana Co. will post -3.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carvana

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after purchasing an additional 655,603 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Carvana during the fourth quarter worth $4,703,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV grew its stake in shares of Carvana by 17.6% during the fourth quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock worth $26,470,000 after purchasing an additional 75,000 shares during the period. Studio Investment Management LLC acquired a new stake in shares of Carvana during the fourth quarter worth $47,000. Finally, Legal & General Group Plc grew its stake in shares of Carvana by 1.1% during the fourth quarter. Legal & General Group Plc now owns 88,157 shares of the company’s stock worth $4,667,000 after purchasing an additional 924 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVNA has been the subject of several analyst reports. Raymond James upgraded Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. William Blair upgraded Carvana from a “market perform” rating to an “outperform” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. upgraded Carvana from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $25.00 to $40.00 in a research report on Monday, December 4th. JMP Securities raised their target price on Carvana from $60.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Friday, February 23rd. Finally, Royal Bank of Canada upgraded Carvana from an “underperform” rating to a “sector perform” rating and raised their target price for the stock from $45.00 to $90.00 in a research report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Carvana presently has an average rating of “Hold” and an average price target of $48.20.

View Our Latest Research Report on CVNA

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.

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