Carvana Co. (NYSE:CVNA) Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel trimmed its position in Carvana Co. (NYSE:CVNA) by 20.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,480 shares of the company’s stock after selling 7,265 shares during the period. Carnegie Investment Counsel’s holdings in Carvana were worth $5,792,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CVNA. ORG Wealth Partners LLC purchased a new position in Carvana in the 4th quarter worth approximately $34,000. Sugarloaf Wealth Management LLC purchased a new position in Carvana in the 3rd quarter worth approximately $32,000. Versant Capital Management Inc purchased a new position in Carvana in the 4th quarter worth approximately $42,000. Capital Performance Advisors LLP purchased a new position in Carvana in the 3rd quarter worth approximately $40,000. Finally, First Horizon Advisors Inc. lifted its stake in Carvana by 363.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock worth $44,000 after purchasing an additional 196 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Performance

NYSE:CVNA opened at $230.59 on Friday. The company has a fifty day simple moving average of $231.78 and a two-hundred day simple moving average of $186.25. The company has a market cap of $47.88 billion, a price-to-earnings ratio of 23,082.38 and a beta of 3.38. 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 $40.21 and a 52 week high of $268.34.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. The business’s revenue was up 31.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS. As a group, equities analysts anticipate that Carvana Co. will post 0.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CVNA has been the topic of a number of research reports. Stephens reissued an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research note on Thursday, January 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Carvana in a research report on Monday, December 16th. Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $110.00 to $260.00 in a research report on Tuesday, November 5th. Evercore ISI lifted their price target on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada raised shares of Carvana from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $270.00 to $280.00 in a research report on Tuesday, January 7th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $241.94.

Insiders Place Their Bets

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total value of $2,007,500.00. Following the completion of the transaction, the chief financial officer now owns 189,097 shares in the company, valued at $37,961,222.75. The trade was a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $190.79, for a total transaction of $19,079,000.00. Following the transaction, the insider now owns 37,658,131 shares of the company’s stock, valued at approximately $7,184,794,813.49. The trade was a 0.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 651,908 shares of company stock worth $142,079,285 over the last 90 days. Corporate insiders own 17.18% of the company’s stock.

Carvana Company Profile

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.