Carvana Co. (NYSE:CVNA) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its stake in Carvana Co. (NYSE:CVNA) by 50.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,192 shares of the company’s stock after selling 1,237 shares during the period. Van ECK Associates Corp’s holdings in Carvana were worth $242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. FMR LLC lifted its stake in shares of Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after acquiring an additional 5,882,656 shares during the period. State Street Corp raised its holdings in shares of Carvana by 6.1% in the 3rd quarter. State Street Corp now owns 1,877,511 shares of the company’s stock worth $326,893,000 after purchasing an additional 107,610 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Carvana by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock worth $315,133,000 after purchasing an additional 131,059 shares in the last quarter. Whale Rock Capital Management LLC bought a new stake in shares of Carvana in the 3rd quarter worth approximately $162,953,000. Finally, Holocene Advisors LP raised its holdings in shares of Carvana by 108.2% in the 3rd quarter. Holocene Advisors LP now owns 554,112 shares of the company’s stock worth $96,476,000 after purchasing an additional 287,983 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $255.07, for a total value of $2,550,700.00. Following the completion of the transaction, the chief financial officer now owns 189,761 shares in the company, valued at approximately $48,402,338.27. This represents a 5.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ryan S. Keeton sold 24,845 shares of the stock in a transaction dated 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 owns 151,029 shares of the company’s stock, valued at $37,440,089.10. This trade represents a 14.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 173,629 shares of company stock worth $44,833,799. 17.12% of the stock is currently owned by corporate insiders.

Carvana Price Performance

NYSE:CVNA opened at $223.14 on Monday. The stock has a market cap of $46.33 billion, a P/E ratio of 142.13 and a beta of 3.37. Carvana Co. has a one year low of $49.38 and a one year high of $292.84. The company has a fifty day moving average price of $234.35 and a 200 day moving average price of $208.84. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CVNA shares. Bank of America boosted their target price on shares of Carvana from $252.00 to $270.00 and gave the stock a “buy” rating in a report on Friday. Evercore ISI boosted their target price on shares of Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a report on Tuesday, December 3rd. Wells Fargo & Company dropped their target price on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Robert W. Baird boosted their target price on shares of Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $110.00 to $260.00 in a report on Tuesday, November 5th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $265.06.

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.