Invesco Ltd. Sells 94,854 Shares of Carvana Co. $CVNA

Invesco Ltd. cut its holdings in Carvana Co. (NYSE:CVNA) by 30.0% in the first quarter, Holdings Channel.com reports. The fund owned 221,344 shares of the company’s stock after selling 94,854 shares during the quarter. Invesco Ltd.’s holdings in Carvana were worth $46,279,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CVNA. Vanguard Group Inc. raised its stake in shares of Carvana by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock valued at $2,620,785,000 after acquiring an additional 1,109,476 shares in the last quarter. Durable Capital Partners LP boosted its position in Carvana by 6.3% during the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock worth $440,932,000 after purchasing an additional 129,246 shares during the period. Whale Rock Capital Management LLC grew its holdings in Carvana by 29.8% during the fourth quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company’s stock valued at $247,017,000 after purchasing an additional 278,760 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Carvana by 89.8% in the fourth quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company’s stock valued at $207,086,000 after purchasing an additional 481,912 shares during the period. Finally, Palestra Capital Management LLC lifted its stake in shares of Carvana by 15.5% in the fourth quarter. Palestra Capital Management LLC now owns 807,016 shares of the company’s stock worth $164,115,000 after buying an additional 108,203 shares during the last quarter. 56.71% of the stock is owned by institutional investors.

Carvana Price Performance

Shares of Carvana stock opened at $350.00 on Monday. Carvana Co. has a twelve month low of $124.39 and a twelve month high of $413.33. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The firm has a market cap of $75.32 billion, a P/E ratio of 87.72, a price-to-earnings-growth ratio of 1.16 and a beta of 3.57. The firm’s 50-day simple moving average is $337.99 and its 200-day simple moving average is $275.89.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The company’s revenue for the quarter was up 41.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) earnings per share. As a group, research analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Activity at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $346.99, for a total value of $34,699,000.00. Following the sale, the insider directly owned 37,092,317 shares in the company, valued at $12,870,663,075.83. This represents a 0.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 3,026,140 shares of company stock worth $1,053,229,671. 16.36% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CVNA has been the topic of a number of research analyst reports. Oppenheimer upgraded shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 target price on the stock in a research note on Friday, July 25th. Stephens upped their price target on shares of Carvana from $300.00 to $375.00 and gave the company an “overweight” rating in a report on Monday, July 7th. Gordon Haskett started coverage on Carvana in a research report on Monday, July 14th. They issued a “hold” rating and a $329.00 price target on the stock. Morgan Stanley boosted their price objective on Carvana from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Finally, Wells Fargo & Company increased their target price on Carvana from $390.00 to $425.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $383.47.

Carvana Company Profile

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.