Frank Rimerman Advisors LLC Decreases Stock Position in Carvana Co. $CVNA

Frank Rimerman Advisors LLC cut its stake in Carvana Co. (NYSE:CVNA) by 9.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,519 shares of the company’s stock after selling 163 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Carvana were worth $512,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in shares of Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock valued at $3,125,749,000 after acquiring an additional 1,823,218 shares during the period. Vanguard Group Inc. grew its holdings in Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock valued at $2,620,785,000 after purchasing an additional 1,109,476 shares during the last quarter. Geode Capital Management LLC grew its holdings in Carvana by 11.0% during the 2nd quarter. Geode Capital Management LLC now owns 2,232,179 shares of the company’s stock valued at $750,301,000 after purchasing an additional 221,161 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in Carvana by 1.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 692,725 shares of the company’s stock worth $144,835,000 after purchasing an additional 9,694 shares during the period. Finally, Northern Trust Corp lifted its stake in Carvana by 5.4% in the first quarter. Northern Trust Corp now owns 685,864 shares of the company’s stock worth $143,400,000 after purchasing an additional 35,168 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVNA has been the subject of several recent analyst reports. JMP Securities boosted their target price on Carvana from $440.00 to $460.00 and gave the company a “market outperform” rating in a research report on Thursday, July 31st. DA Davidson set a $360.00 price target on Carvana in a research note on Thursday, October 30th. Citigroup cut their price objective on Carvana from $490.00 to $445.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Wall Street Zen lowered Carvana from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Carvana in a research report on Monday. Fifteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Carvana has a consensus rating of “Moderate Buy” and an average target price of $414.16.

Insider Buying and Selling

In other news, insider Ryan S. Keeton sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $325.03, for a total value of $3,250,300.00. Following the completion of the sale, the insider owned 104,958 shares of the company’s stock, valued at approximately $34,114,498.74. This represents a 8.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory B. Sullivan sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $340.00, for a total transaction of $850,000.00. Following the transaction, the director owned 39,428 shares in the company, valued at approximately $13,405,520. This represents a 5.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 396,452 shares of company stock valued at $144,553,806 over the last quarter. 17.12% of the stock is owned by company insiders.

Carvana Trading Up 3.8%

CVNA opened at $329.40 on Thursday. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63. The stock’s fifty day moving average is $349.13 and its two-hundred day moving average is $339.14. The company has a market capitalization of $71.66 billion, a P/E ratio of 75.21, a PEG ratio of 1.15 and a beta of 3.50. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.Carvana’s quarterly revenue was up 54.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. Analysts forecast that Carvana Co. will post 2.85 earnings per share 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.