Los Angeles Capital Management LLC Trims Stock Position in Carvana Co. (NYSE:CVNA)

Los Angeles Capital Management LLC cut its holdings in shares of Carvana Co. (NYSE:CVNA) by 42.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,513 shares of the company’s stock after selling 12,045 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Carvana were worth $1,452,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new position in shares of Carvana in the 4th quarter worth about $29,000. Parallel Advisors LLC raised its holdings in shares of Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares during the period. Tidemark LLC purchased a new position in shares of Carvana in the 4th quarter worth about $50,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Carvana in the 3rd quarter worth about $64,000. Finally, Headlands Technologies LLC purchased a new position in shares of Carvana in the 4th quarter worth about $87,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Carvana

In other Carvana news, insider Thomas Taira sold 4,197 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $82.84, for a total transaction of $347,679.48. Following the completion of the sale, the insider now owns 164,827 shares in the company, valued at approximately $13,654,268.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Thomas Taira sold 4,197 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $82.84, for a total value of $347,679.48. Following the completion of the sale, the insider now owns 164,827 shares in the company, valued at approximately $13,654,268.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ernest C. Garcia III sold 9,390 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $82.83, for a total transaction of $777,773.70. Following the completion of the sale, the chief executive officer now owns 861,458 shares of the company’s stock, valued at approximately $71,354,566.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,581,829 shares of company stock worth $167,561,683. Insiders own 17.12% of the company’s stock.

Carvana Price Performance

Shares of CVNA opened at $112.99 on Friday. The company has a market capitalization of $22.89 billion, a P/E ratio of 49.56 and a beta of 3.29. Carvana Co. has a one year low of $20.60 and a one year high of $129.00. The business’s 50 day simple moving average is $102.06 and its 200-day simple moving average is $75.37.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.35. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.72 billion. On average, sell-side analysts anticipate that Carvana Co. will post -0.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVNA. Robert W. Baird increased their target price on Carvana from $65.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Wells Fargo & Company increased their target price on Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Jefferies Financial Group upgraded Carvana from an “underperform” rating to a “hold” rating and raised their price objective for the company from $30.00 to $85.00 in a research note on Tuesday, March 12th. TD Cowen raised their price objective on Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Finally, JMP Securities raised their price objective on Carvana from $135.00 to $150.00 and gave the company a “market outperform” rating in a research note on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $87.29.

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.