Carvana Co. (NYSE:CVNA) Stake Trimmed by USA Financial Formulas

USA Financial Formulas lowered its stake in Carvana Co. (NYSE:CVNA) by 18.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,486 shares of the company’s stock after selling 339 shares during the quarter. USA Financial Formulas’ holdings in Carvana were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CVNA. ORG Wealth Partners LLC acquired a new stake in Carvana during the 4th quarter worth about $34,000. Sugarloaf Wealth Management LLC acquired a new stake in Carvana during the 3rd quarter worth about $32,000. Versant Capital Management Inc acquired a new stake in Carvana during the 4th quarter worth about $42,000. Capital Performance Advisors LLP acquired a new stake in Carvana during the 3rd quarter worth about $40,000. Finally, First Horizon Advisors Inc. boosted its position in Carvana by 363.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock worth $44,000 after acquiring an additional 196 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of NYSE CVNA opened at $231.83 on Friday. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The business’s 50 day moving average is $232.25 and its two-hundred day moving average is $185.19. The company has a market cap of $48.13 billion, a P/E ratio of 23,206.01 and a beta of 3.38. Carvana Co. has a 12 month low of $40.21 and a 12 month high of $268.34.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. The business’s quarterly revenue was up 31.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 earnings per share. On average, equities analysts expect that Carvana Co. will post 0.88 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $110.00 to $260.00 in a report on Tuesday, November 5th. Wells Fargo & Company reduced their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and set a $330.00 price target on shares of Carvana in a report on Tuesday, January 7th. Piper Sandler lifted their price target on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Evercore ISI lifted their price target on Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a report on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Carvana presently has an average rating of “Moderate Buy” and a consensus price target of $241.94.

Insider Activity

In other news, insider Ryan S. Keeton sold 24,845 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the sale, the insider now directly owns 151,029 shares in the company, valued at approximately $37,440,089.10. The trade was a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 208,495 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $224.43, for a total value of $46,792,532.85. Following the sale, the chief financial officer now owns 90,732 shares in the company, valued at approximately $20,362,982.76. This represents a 69.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 651,908 shares of company stock worth $142,079,285. Company insiders own 17.18% of the company’s stock.

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.