Carvana Co. (NYSE:CVNA) Shares Sold by Ieq Capital LLC

Ieq Capital LLC lessened its stake in Carvana Co. (NYSE:CVNA) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,261 shares of the company’s stock after selling 376 shares during the quarter. Ieq Capital LLC’s holdings in Carvana were worth $702,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Carvana by 20.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,324 shares of the company’s stock valued at $769,000 after buying an additional 3,115 shares during the period. Mackenzie Financial Corp purchased a new position in Carvana in the third quarter worth approximately $236,000. Strs Ohio increased its stake in Carvana by 272.5% during the third quarter. Strs Ohio now owns 14,900 shares of the company’s stock worth $625,000 after acquiring an additional 10,900 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Carvana by 1,370.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,470 shares of the company’s stock valued at $62,000 after purchasing an additional 1,370 shares during the period. Finally, Panagora Asset Management Inc. lifted its stake in shares of Carvana by 24.4% in the 3rd quarter. Panagora Asset Management Inc. now owns 180,369 shares of the company’s stock valued at $7,572,000 after purchasing an additional 35,358 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CVNA. Jefferies Financial Group raised shares of Carvana from an “underperform” rating to a “hold” rating and upped their target price for the company from $30.00 to $85.00 in a research report on Tuesday, March 12th. JMP Securities reaffirmed a “market outperform” rating and set a $135.00 price objective on shares of Carvana in a research report on Tuesday. Raymond James raised Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. upgraded Carvana from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $70.00 to $130.00 in a research report on Thursday, May 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Carvana in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $77.60.

Insider Transactions at Carvana

In other news, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the completion of the sale, the insider now owns 150,126 shares in the company, valued at approximately $10,358,694. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Neha Parikh purchased 1,300 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were purchased at an average price of $76.68 per share, for a total transaction of $99,684.00. Following the purchase, the director now directly owns 59,795 shares of the company’s stock, valued at approximately $4,585,080.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total value of $1,035,000.00. Following the completion of the sale, the insider now owns 150,126 shares of the company’s stock, valued at approximately $10,358,694. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 823,273 shares of company stock valued at $83,763,040. Corporate insiders own 17.18% of the company’s stock.

Carvana Trading Up 0.1 %

Shares of NYSE:CVNA opened at $121.07 on Thursday. Carvana Co. has a 52 week low of $10.20 and a 52 week high of $129.00. The company’s 50 day moving average is $88.38 and its two-hundred day moving average is $60.95. The company has a market cap of $24.53 billion, a PE ratio of 53.10 and a beta of 3.28.

Carvana (NYSE:CVNA) last posted its earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Carvana’s revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.97) earnings per share. As a group, equities research analysts expect that Carvana Co. will post -1.35 EPS for the current 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.