American International Group Inc. Decreases Stock Holdings in Carvana Co. (NYSE:CVNA)

American International Group Inc. reduced its position in shares of Carvana Co. (NYSE:CVNA) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,720 shares of the company’s stock after selling 193 shares during the period. American International Group Inc.’s holdings in Carvana were worth $2,526,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Goodnow Investment Group LLC lifted its position in shares of Carvana by 1.6% during the 4th quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock worth $77,532,000 after purchasing an additional 23,140 shares during the last quarter. C M Bidwell & Associates Ltd. lifted its position in shares of Carvana by 150.6% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 2,055 shares of the company’s stock worth $109,000 after purchasing an additional 1,235 shares during the last quarter. Symmetry Investments LP purchased a new stake in shares of Carvana during the 4th quarter worth $1,327,000. Neuberger Berman Group LLC lifted its position in shares of Carvana by 10.2% during the 4th quarter. Neuberger Berman Group LLC now owns 6,543 shares of the company’s stock worth $346,000 after purchasing an additional 606 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its position in shares of Carvana by 128.1% during the 4th quarter. Quadrature Capital Ltd now owns 118,196 shares of the company’s stock worth $6,269,000 after purchasing an additional 66,386 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Trading Up 5.7 %

Shares of CVNA opened at $119.46 on Tuesday. The firm’s 50-day moving average is $103.05 and its two-hundred day moving average is $76.21. Carvana Co. has a twelve month low of $20.60 and a twelve month high of $129.00. The firm has a market capitalization of $24.20 billion, a P/E ratio of 52.39 and a beta of 3.29.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.35. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.72 billion. Analysts predict that Carvana Co. will post -0.75 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CVNA shares. Needham & Company LLC reissued a “hold” rating on shares of Carvana in a research report on Thursday, May 2nd. Wedbush boosted their price target on shares of Carvana from $80.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. JMP Securities boosted their price target on shares of Carvana from $135.00 to $150.00 and gave the company a “market outperform” rating in a research report on Friday, June 7th. William Blair reissued an “outperform” rating on shares of Carvana in a research report on Thursday, May 2nd. Finally, TD Cowen boosted their price target on shares of Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $87.29.

Insider Buying and Selling at Carvana

In other Carvana news, COO Benjamin E. Huston sold 9,296 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $82.92, for a total value of $770,824.32. Following the sale, the chief operating officer now owns 178,885 shares of the company’s stock, valued at $14,833,144.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Carvana news, COO Benjamin E. Huston sold 18,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $115.07, for a total value of $2,071,260.00. Following the sale, the chief operating officer now owns 213,548 shares of the company’s stock, valued at $24,572,968.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Benjamin E. Huston sold 9,296 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.92, for a total transaction of $770,824.32. Following the transaction, the chief operating officer now directly owns 178,885 shares in the company, valued at approximately $14,833,144.20. The disclosure for this sale can be found here. Insiders have sold 1,666,829 shares of company stock valued at $177,093,283 over the last quarter. Corporate insiders own 17.12% of the company’s stock.

About Carvana

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.