Private Advisor Group LLC Has $4.67 Million Position in Carvana Co. (NYSE:CVNA)

Private Advisor Group LLC cut its holdings in Carvana Co. (NYSE:CVNA) by 24.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,978 shares of the company’s stock after selling 7,536 shares during the quarter. Private Advisor Group LLC’s holdings in Carvana were worth $4,673,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its stake in shares of Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after acquiring an additional 5,882,656 shares during the last quarter. State Street Corp increased its stake in Carvana by 6.1% in the third quarter. State Street Corp now owns 1,877,511 shares of the company’s stock valued at $326,893,000 after purchasing an additional 107,610 shares in the last quarter. Geode Capital Management LLC raised its holdings in Carvana by 7.8% in the third quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock worth $315,133,000 after purchasing an additional 131,059 shares during the period. Whale Rock Capital Management LLC bought a new position in shares of Carvana during the third quarter worth $162,953,000. Finally, Holocene Advisors LP grew its holdings in shares of Carvana by 108.2% in the 3rd quarter. Holocene Advisors LP now owns 554,112 shares of the company’s stock valued at $96,476,000 after buying an additional 287,983 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Price Performance

NYSE:CVNA opened at $223.14 on Friday. The stock’s 50-day simple moving average is $234.35 and its 200 day simple moving average is $208.28. Carvana Co. has a 52-week low of $49.38 and a 52-week high of $292.84. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The company has a market cap of $46.33 billion, a P/E ratio of 142.13 and a beta of 3.37.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. As a group, sell-side analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $255.07, for a total transaction of $2,550,700.00. Following the completion of the transaction, the chief financial officer now owns 189,761 shares in the company, valued at approximately $48,402,338.27. This trade represents a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ryan S. Keeton sold 24,845 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the completion of the sale, the insider now owns 151,029 shares in the company, valued at $37,440,089.10. This represents a 14.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 173,629 shares of company stock valued at $44,833,799. 17.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on CVNA shares. Piper Sandler raised their price objective on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC raised their price target on Carvana from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday. DA Davidson boosted their price objective on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. raised their target price on shares of Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Citigroup lifted their price target on shares of Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research note on Friday. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $265.06.

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.