Carvana Co. (NYSE:CVNA) Shares Sold by Westpac Banking Corp

Westpac Banking Corp trimmed its holdings in shares of Carvana Co. (NYSE:CVNA) by 46.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,343 shares of the company’s stock after selling 7,281 shares during the quarter. Westpac Banking Corp’s holdings in Carvana were worth $1,697,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CVNA. Quent Capital LLC purchased a new stake in shares of Carvana in the fourth quarter valued at about $28,000. Global Retirement Partners LLC raised its holdings in shares of Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in Carvana during the 4th quarter worth about $31,000. ORG Wealth Partners LLC purchased a new position in Carvana in the fourth quarter valued at approximately $34,000. Finally, Versant Capital Management Inc acquired a new position in Carvana in the fourth quarter valued at $42,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CVNA. JMP Securities reissued a “market outperform” rating and set a $320.00 price target on shares of Carvana in a report on Monday, December 16th. Stephens reiterated an “overweight” rating and set a $300.00 price target on shares of Carvana in a research report on Monday, March 3rd. DA Davidson raised their price target on Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Evercore ISI dropped their target price on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research note on Tuesday, March 11th. Finally, 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. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Carvana has an average rating of “Moderate Buy” and a consensus target price of $261.53.

Insiders Place Their Bets

In related news, CFO Mark W. Jenkins sold 28,422 shares of Carvana stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total value of $8,209,694.70. Following the sale, the chief financial officer now owns 219,962 shares of the company’s stock, valued at approximately $63,536,023.70. This trade represents a 11.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $207.32, for a total value of $10,366,000.00. Following the transaction, the chief operating officer now directly owns 128,116 shares of the company’s stock, valued at approximately $26,561,009.12. This trade represents a 28.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 280,810 shares of company stock worth $61,698,820. Corporate insiders own 17.12% of the company’s stock.

Carvana Stock Down 19.5 %

Shares of NYSE CVNA opened at $182.10 on Friday. The stock has a market cap of $38.82 billion, a PE ratio of 115.99 and a beta of 3.61. Carvana Co. has a 52-week low of $67.61 and a 52-week high of $292.84. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The business has a fifty day moving average of $225.04 and a two-hundred day moving average of $218.85.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. As a group, equities research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

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.