Commonwealth Equity Services LLC Reduces Position in Carvana Co. (NYSE:CVNA)

Commonwealth Equity Services LLC lowered its position in Carvana Co. (NYSE:CVNA) by 10.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,487 shares of the company’s stock after selling 753 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Carvana were worth $1,319,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of CVNA. Charles Schwab Investment Management Inc. increased its holdings in shares of Carvana by 9.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company’s stock valued at $94,148,000 after acquiring an additional 39,089 shares during the period. Plato Investment Management Ltd increased its stake in Carvana by 135.5% in the fourth quarter. Plato Investment Management Ltd now owns 5,204 shares of the company’s stock valued at $1,062,000 after purchasing an additional 2,994 shares during the period. Oak Thistle LLC raised its holdings in shares of Carvana by 115.9% in the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock valued at $658,000 after buying an additional 1,738 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Carvana by 37.7% in the fourth quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company’s stock valued at $97,305,000 after buying an additional 130,942 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Carvana by 33.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company’s stock worth $77,807,000 after buying an additional 95,497 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Carvana

In related news, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the transaction, the chief operating officer now owns 196,278 shares of the company’s stock, valued at approximately $35,033,660.22. The trade was a 20.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the sale, the chief financial officer now directly owns 219,962 shares in the company, valued at $55,016,895.44. This represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,377 shares of company stock valued at $44,251,096 over the last quarter. Corporate insiders own 17.12% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVNA. Piper Sandler upgraded Carvana from a “neutral” rating to an “overweight” rating and set a $225.00 price target on the stock in a research report on Thursday, March 20th. Needham & Company LLC reissued a “buy” rating and issued a $340.00 target price on shares of Carvana in a report on Friday, March 7th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Carvana in a report on Monday, December 16th. Citigroup lifted their price objective on shares of Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, DA Davidson upped their price objective on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Carvana has a consensus rating of “Moderate Buy” and an average target price of $261.53.

Carvana Stock Performance

Shares of CVNA stock opened at $204.40 on Monday. 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 stock has a market cap of $43.57 billion, a PE ratio of 130.19 and a beta of 3.56. Carvana Co. has a 1 year low of $67.61 and a 1 year high of $292.84. The stock has a fifty day moving average price of $227.25 and a 200 day moving average price of $218.09.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.29 by $0.27. The business had revenue of $3.55 billion for 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%. Sell-side analysts forecast 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.