Blair William & Co. IL Reduces Stock Position in Carvana Co. (NYSE:CVNA)

Blair William & Co. IL trimmed its position in Carvana Co. (NYSE:CVNA) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,203 shares of the company’s stock after selling 2,922 shares during the period. Blair William & Co. IL’s holdings in Carvana were worth $8,379,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Cerity Partners LLC boosted its position in Carvana by 112.8% during the third quarter. Cerity Partners LLC now owns 4,215 shares of the company’s stock worth $734,000 after acquiring an additional 2,234 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Carvana during the third quarter worth $244,000. The Manufacturers Life Insurance Company increased its stake in Carvana by 2.7% in the third quarter. The Manufacturers Life Insurance Company now owns 171,389 shares of the company’s stock valued at $29,841,000 after purchasing an additional 4,485 shares during the last quarter. Townsquare Capital LLC purchased a new position in Carvana during the third quarter worth about $282,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Carvana by 13.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,140 shares of the company’s stock worth $3,332,000 after buying an additional 2,243 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CVNA shares. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price objective on shares of Carvana in a research note on Monday, December 16th. DA Davidson upped their price target on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Robert W. Baird lifted their price target on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. William Blair restated an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. Finally, Wells Fargo & Company reduced their target price on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $261.53.

Carvana Stock Up 0.2 %

NYSE:CVNA opened at $204.40 on Friday. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The stock has a 50 day moving average of $227.25 and a 200-day moving average of $217.50. The firm has a market capitalization of $43.57 billion, a PE ratio of 130.19 and a beta of 3.56. Carvana Co. has a 52 week low of $67.61 and a 52 week high of $292.84.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 28,422 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the completion of the transaction, the chief financial officer now directly owns 219,962 shares in the company, valued at approximately $63,536,023.70. The trade was a 11.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas Taira sold 27,593 shares of Carvana stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total value of $6,209,252.79. Following the sale, the insider now directly owns 179,673 shares in the company, valued at $40,431,815.19. The trade was a 13.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,377 shares of company stock valued at $44,251,096 in the last ninety days. Company insiders own 17.12% of the company’s stock.

Carvana 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.