Carvana Co.

New York Stock Exchange
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Bullish +72

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

Insider transaction AI-generated analysis

📉 Carvana VP Stephen Palmer sold 5,000 shares for $308,200 under a Rule 10b5-1 plan, reducing his stake by 3.97%.

📈 The company reported Q2 revenue of $7.38 billion, up 52.4% year-over-year, beating analyst estimates.

💰 Carvana posted $0.42 earnings per share in the quarter, surpassing the consensus estimate of $0.39.

🏦 State Street Corp increased its holdings by 417.1% to own over 29 million shares worth nearly $1.94 billion.

📊 UBS AM grew its position by 345.8%, acquiring an additional 2.58 million shares valued at $218.9 million.

🏛️ Amundi expanded its stake by 379.7% to hold 2.42 million shares worth approximately $159.4 million.

💼 Capital Research Global Investors increased its position by 42.9%, now owning 5.7 million shares valued at $2.4 billion.

🛡️ The Manufacturers Life Insurance Company raised its stake by 384.3% to own 1.9 million shares worth $124.9 million.

🎯 Analyst consensus price target is set at $84.30 with a 'Moderate Buy' rating from MarketBeat data.

📉 Weiss Ratings recently downgraded Carvana from a 'buy (b-)' to a 'hold (c+)' rating in late September.

📈 Wells Fargo & Company maintains an 'overweight' rating with a $80.00 price objective for the stock.

🚀 Oppenheimer has assigned an 'outperform' rating and set a $90.00 price target on Carvana shares.

Bullish Signals
  • Carvana reported Q2 revenue of $7.38 billion, a 52.4% year-over-year increase that significantly topped analyst expectations.
  • The company achieved $0.42 earnings per share in the quarter, beating the consensus estimate of $0.39 by $0.03.
  • State Street Corp dramatically increased its holdings by 417.1% in Q2, adding over 23.7 million shares to its portfolio.
  • UBS Asset Management Americas lifted its position by 345.8%, acquiring an additional 2.58 million shares during the quarter.
  • Amundi grew its investment stake by 379.7% in Q2, purchasing nearly 1.92 million new shares of the company.
  • Capital Research Global Investors expanded its position by 42.9%, increasing holdings to 5.7 million shares worth $2.4 billion.
  • The Manufacturers Life Insurance Company increased its stake by 384.3% in Q2, adding 1.5 million shares to its portfolio.
  • Analyst consensus price target stands at $84.30 with a 'Moderate Buy' rating, indicating positive market sentiment.
Risk Factors
  • Weiss Ratings downgraded Carvana from a 'buy (b-)' to a 'hold (c+)' rating in a report dated September 22nd.
  • The stock price opened at $63.64, trading below its 50-day moving average of $69.01 and 200-day moving average of $68.50.
Full Analysis
Carvana Co. (NYSE:CVNA) VP Stephen Palmer executed a sale of 5,000 shares on October 1st at an average price of $61.64, reducing his direct ownership by 3.97% to 120,865 shares. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan and generated approximately $308,200 in proceeds. Financially, the company reported strong Q2 results with revenue of $7.38 billion, representing a 52.4% year-over-year increase. The firm posted earnings per share of $0.42, beating analyst consensus estimates of $0.39, and achieved a net margin of 6.26%. Analysts currently project full-year earnings of $1.68 per share. Institutional sentiment remains robust with significant accumulation from major funds including State Street Corp, UBS AM, Amundi, Capital Research Global Investors, and The Manufacturers Life Insurance Company in the second quarter. Hedge fund ownership stands at 56.71%, while analyst consensus ratings are 'Moderate Buy' with a price target of $84.30.