Mitsubishi UFJ Trust & Banking Corp Reduces Position in Carvana Co. $CVNA

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in Carvana Co. (NYSE:CVNA) by 9.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,802 shares of the company’s stock after selling 5,030 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Carvana were worth $18,787,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Hilltop National Bank bought a new stake in Carvana during the second quarter valued at about $25,000. ORG Partners LLC lifted its position in shares of Carvana by 8,700.0% during the 3rd quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after buying an additional 87 shares in the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Carvana during the 3rd quarter valued at about $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Carvana during the 2nd quarter valued at approximately $38,000. Finally, LRI Investments LLC purchased a new stake in Carvana in the 2nd quarter worth approximately $42,000. 56.71% of the stock is owned by institutional investors.

Carvana Trading Up 0.0%

Shares of CVNA stock opened at $473.38 on Tuesday. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $102.98 billion, a price-to-earnings ratio of 108.08, a price-to-earnings-growth ratio of 1.14 and a beta of 3.54. Carvana Co. has a 12-month low of $148.25 and a 12-month high of $486.89. The stock’s 50-day moving average price is $423.07 and its 200-day moving average price is $377.11.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $460.00 price target on shares of Carvana in a report on Thursday, October 30th. Evercore ISI raised their price objective on shares of Carvana from $420.00 to $425.00 and gave the company an “in-line” rating in a research report on Tuesday, December 23rd. Bank of America upped their target price on shares of Carvana from $455.00 to $515.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Barclays increased their price target on Carvana from $465.00 to $530.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 21st. Finally, DA Davidson set a $360.00 price objective on Carvana in a research report on Thursday, October 30th. Nineteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $468.59.

Insider Transactions at Carvana

In related news, insider Thomas Taira sold 30,952 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $435.96, for a total value of $13,493,833.92. Following the sale, the insider owned 69,880 shares in the company, valued at approximately $30,464,884.80. The trade was a 30.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ryan S. Keeton sold 32,370 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $301.68, for a total transaction of $9,765,381.60. Following the transaction, the insider owned 115,456 shares of the company’s stock, valued at $34,830,766.08. This trade represents a 21.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 467,626 shares of company stock valued at $192,090,109 in the last 90 days. Company insiders own 16.36% 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.