Carvana Co. $CVNA Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lowered its position in shares of Carvana Co. (NYSE:CVNA) by 14.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,853 shares of the company’s stock after selling 1,288 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Carvana were worth $2,962,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. SJS Investment Consulting Inc. lifted its stake in shares of Carvana by 28.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock valued at $51,000 after purchasing an additional 30 shares during the last quarter. MAI Capital Management raised its position in shares of Carvana by 1.8% during the second quarter. MAI Capital Management now owns 1,757 shares of the company’s stock valued at $592,000 after buying an additional 31 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its position in shares of Carvana by 1.7% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock worth $622,000 after acquiring an additional 31 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in Carvana by 23.1% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 165 shares of the company’s stock worth $62,000 after buying an additional 31 shares in the last quarter. Finally, WPG Advisers LLC raised its position in Carvana by 17.2% in the third quarter. WPG Advisers LLC now owns 218 shares of the company’s stock worth $82,000 after purchasing an additional 32 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Stock Performance

Shares of Carvana stock opened at $408.22 on Tuesday. The business has a 50-day moving average price of $433.47 and a two-hundred day moving average price of $379.81. The company has a market cap of $88.80 billion, a P/E ratio of 93.20, a PEG ratio of 0.96 and a beta of 3.57. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $486.89.

Insider Activity

In related news, insider Thomas Taira sold 30,952 shares of Carvana stock in a transaction on Monday, December 8th. The stock was sold at an average price of $435.96, for a total transaction of $13,493,833.92. Following the completion of the sale, the insider owned 69,880 shares of the company’s stock, valued at approximately $30,464,884.80. This trade represents a 30.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Benjamin E. Huston sold 40,000 shares of Carvana stock in a transaction on Monday, December 8th. The stock was sold at an average price of $439.50, for a total transaction of $17,580,000.00. Following the sale, the chief operating officer directly owned 100,758 shares of the company’s stock, valued at $44,283,141. This represents a 28.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 409,006 shares of company stock worth $173,845,815. Company insiders own 16.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CVNA shares. DA Davidson set a $360.00 target price on Carvana in a research note on Thursday, October 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Carvana in a research note on Tuesday, January 13th. Citigroup lifted their target price on Carvana from $445.00 to $550.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Needham & Company LLC restated a “buy” rating and set a $500.00 price objective on shares of Carvana in a research note on Monday, November 17th. Finally, Jefferies Financial Group lifted their target price on shares of Carvana from $475.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Nineteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $474.27.

Carvana Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.