Carvana Co. $CVNA Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP decreased its holdings in Carvana Co. (NYSE:CVNA) by 69.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 10,006 shares of the company’s stock after selling 23,259 shares during the quarter. Quantbot Technologies LP’s holdings in Carvana were worth $3,372,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CVNA. Hilltop National Bank acquired a new stake in Carvana during the 2nd quarter worth approximately $25,000. Brooklyn Investment Group increased its position in shares of Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after acquiring an additional 125 shares during the period. SJS Investment Consulting Inc. increased its position in shares of Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 96 shares during the period. LRI Investments LLC acquired a new stake in shares of Carvana in the second quarter valued at $42,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in Carvana in the second quarter valued at $49,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Performance

Shares of CVNA stock opened at $399.10 on Friday. The stock’s 50-day moving average is $345.91 and its two-hundred day moving average is $344.74. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $413.33. The firm has a market cap of $86.82 billion, a price-to-earnings ratio of 91.12, a PEG ratio of 1.43 and a beta of 3.51.

Carvana (NYSE:CVNA) last announced its earnings results 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 firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. The firm’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. Analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CVNA. Jefferies Financial Group restated a “buy” rating on shares of Carvana in a report on Tuesday, November 25th. JPMorgan Chase & Co. boosted their price objective on Carvana from $425.00 to $490.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Zacks Research lowered shares of Carvana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Citigroup decreased their price target on shares of Carvana from $490.00 to $445.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Finally, Evercore ISI lowered their price target on shares of Carvana from $425.00 to $395.00 and set an “in-line” rating for the company in a report on Thursday, October 30th. Eighteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Carvana presently has a consensus rating of “Moderate Buy” and an average target price of $422.10.

Insider Activity

In other news, CFO Mark W. Jenkins sold 12,750 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $376.07, for a total value of $4,794,892.50. Following the completion of the sale, the chief financial officer directly owned 204,923 shares of the company’s stock, valued at approximately $77,065,392.61. This represents a 5.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas Taira sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $400.00, for a total value of $10,000,000.00. Following the transaction, the insider directly owned 80,832 shares in the company, valued at approximately $32,332,800. This represents a 23.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 432,380 shares of company stock worth $160,355,855 over the last 90 days. 17.12% of the stock is owned by corporate insiders.

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.