Mark W. Jenkins Sells 28,422 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) CFO Mark W. Jenkins sold 28,422 shares of Carvana stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the sale, the chief financial officer now directly owns 219,962 shares in the company, valued at $63,536,023.70. This represents a 11.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Carvana Price Performance

CVNA stock opened at $284.67 on Wednesday. The stock has a market capitalization of $59.11 billion, a price-to-earnings ratio of 28,495.80 and a beta of 3.37. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. Carvana Co. has a 52-week low of $48.15 and a 52-week high of $291.27. The stock’s fifty day simple moving average is $234.25 and its 200-day simple moving average is $206.38.

Institutional Trading of Carvana

A number of hedge funds have recently added to or reduced their stakes in CVNA. Fidelis Capital Partners LLC increased its stake in shares of Carvana by 3.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock valued at $313,000 after acquiring an additional 51 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in Carvana by 2.8% in the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock valued at $483,000 after purchasing an additional 65 shares during the period. EverSource Wealth Advisors LLC increased its position in Carvana by 21.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after purchasing an additional 74 shares during the last quarter. Forum Financial Management LP raised its stake in Carvana by 3.8% during the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after purchasing an additional 76 shares during the period. Finally, Great Lakes Advisors LLC boosted its holdings in shares of Carvana by 2.1% in the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock valued at $752,000 after purchasing an additional 77 shares during the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CVNA shares. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $110.00 to $260.00 in a report on Tuesday, November 5th. Wedbush reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Carvana in a report on Thursday, February 6th. Wells Fargo & Company dropped their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Piper Sandler boosted their price objective on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Stephens restated an “overweight” rating and set a $300.00 target price on shares of Carvana in a report on Thursday, February 6th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $249.29.

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.