Carvana Co. $CVNA Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP reduced its position in shares of Carvana Co. (NYSE:CVNA) by 69.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,006 shares of the company’s stock after selling 23,259 shares during the period. Quantbot Technologies LP’s holdings in Carvana were worth $3,372,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CVNA. M&T Bank Corp raised its stake in Carvana by 125.2% in the 2nd quarter. M&T Bank Corp now owns 13,895 shares of the company’s stock valued at $4,682,000 after purchasing an additional 7,725 shares during the last quarter. OMERS ADMINISTRATION Corp boosted its stake in Carvana by 128.2% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 9,255 shares of the company’s stock worth $3,119,000 after purchasing an additional 5,200 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Carvana during the second quarter worth $4,168,000. Okabena Investment Services Inc. acquired a new stake in shares of Carvana in the second quarter valued at about $568,000. Finally, Lido Advisors LLC raised its position in shares of Carvana by 10.6% in the second quarter. Lido Advisors LLC now owns 1,977 shares of the company’s stock valued at $666,000 after buying an additional 189 shares during the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Stock Performance

Shares of Carvana stock opened at $399.10 on Friday. The firm has a market cap of $86.82 billion, a PE ratio of 91.12, a price-to-earnings-growth ratio of 1.43 and a beta of 3.51. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33. The business’s fifty day simple moving average is $345.91 and its 200-day simple moving average is $344.74.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.The firm’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 earnings per share. Equities analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

CVNA has been the topic of a number of research reports. Citigroup decreased their target price on shares of Carvana from $490.00 to $445.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on Carvana in a research note on Friday, November 21st. They set a “buy” rating and a $395.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $500.00 target price on shares of Carvana in a research note on Monday, November 17th. Barclays started coverage on Carvana in a report on Tuesday, November 11th. They set an “overweight” rating and a $390.00 price target on the stock. Finally, Morgan Stanley set a $450.00 price objective on shares of Carvana in a report on Monday, October 20th. Eighteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Carvana has an average rating of “Moderate Buy” and a consensus target price of $422.10.

Insider Buying and Selling at Carvana

In other news, Director Michael E. Maroone sold 30,928 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $400.34, for a total value of $12,381,715.52. Following the transaction, the director directly owned 143,573 shares in the company, valued at approximately $57,478,014.82. This represents a 17.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark W. Jenkins sold 12,750 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $376.07, for a total transaction of $4,794,892.50. Following the transaction, the chief financial officer directly owned 204,923 shares of the company’s stock, valued at $77,065,392.61. The trade was a 5.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 432,380 shares of company stock valued at $160,355,855. 17.12% of the stock is currently owned by company insiders.

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.