Primecap Management Co. CA Lowers Stake in Carvana Co. $CVNA

Primecap Management Co. CA lowered its position in shares of Carvana Co. (NYSE:CVNA) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 187,325 shares of the company’s stock after selling 3,800 shares during the period. Primecap Management Co. CA owned about 0.09% of Carvana worth $70,666,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CVNA. ORG Partners LLC grew its position in Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after acquiring an additional 87 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Carvana in the 3rd quarter valued at $38,000. Washington Trust Advisors Inc. bought a new position in shares of Carvana during the 3rd quarter valued at $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Carvana in the 2nd quarter worth $38,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Carvana in the second quarter worth about $49,000. Institutional investors own 56.71% of the company’s stock.

Carvana Trading Up 5.7%

NYSE:CVNA opened at $354.03 on Friday. The company has a 50-day moving average price of $413.48 and a 200-day moving average price of $381.08. The stock has a market cap of $77.02 billion, a price-to-earnings ratio of 44.03 and a beta of 3.57. The company has a current ratio of 4.31, a quick ratio of 2.73 and a debt-to-equity ratio of 1.15. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $486.89.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $3.12. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.24 billion. Carvana had a net margin of 6.92% and a return on equity of 50.96%. Carvana’s revenue was up 58.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 earnings per share. Equities analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

CVNA has been the subject of a number of analyst reports. BTIG Research dropped their price objective on Carvana from $535.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Gordon Haskett dropped their price target on shares of Carvana from $435.00 to $350.00 and set a “hold” rating for the company in a research report on Friday, February 20th. Jefferies Financial Group cut their price target on shares of Carvana from $550.00 to $485.00 and set a “buy” rating on the stock in a report on Monday. UBS Group set a $485.00 price objective on shares of Carvana in a research note on Friday, February 20th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Carvana from $510.00 to $490.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Twenty research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $440.59.

Insider Buying and Selling

In other Carvana news, insider Paul W. Breaux sold 20,000 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $438.50, for a total value of $8,770,000.00. Following the completion of the transaction, the insider owned 69,289 shares in the company, valued at approximately $30,383,226.50. This represents a 22.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Benjamin E. Huston sold 40,000 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $439.50, for a total value of $17,580,000.00. Following the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 390,351 shares of company stock worth $168,588,549 over the last quarter. Company insiders own 17.12% of the company’s stock.

About Carvana

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.