Carvana Co. $CVNA Shares Sold by Wolverine Asset Management LLC

Wolverine Asset Management LLC lessened its holdings in shares of Carvana Co. (NYSE:CVNA) by 41.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,600 shares of the company’s stock after selling 2,500 shares during the period. Wolverine Asset Management LLC’s holdings in Carvana were worth $1,358,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC boosted its holdings in shares of Carvana by 1,950.7% in the second quarter. Los Angeles Capital Management LLC now owns 111,190 shares of the company’s stock valued at $37,467,000 after acquiring an additional 105,768 shares in the last quarter. Hudson Bay Capital Management LP raised its holdings in Carvana by 158.0% during the second quarter. Hudson Bay Capital Management LP now owns 16,478 shares of the company’s stock worth $5,552,000 after purchasing an additional 10,090 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Carvana by 14.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 193,879 shares of the company’s stock worth $76,662,000 after purchasing an additional 24,129 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Carvana during the 2nd quarter valued at $183,102,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Carvana during the 2nd quarter valued at $6,596,000. Institutional investors own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Bank of America upped their price objective on Carvana from $455.00 to $515.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Needham & Company LLC reissued a “buy” rating and issued a $500.00 price target on shares of Carvana in a report on Monday, November 17th. DA Davidson set a $360.00 price objective on shares of Carvana in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Carvana in a report on Tuesday. Finally, BTIG Research increased their target price on shares of Carvana from $450.00 to $535.00 and gave the company a “buy” rating in a research note on Thursday. Nineteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $465.64.

Insider Transactions at Carvana

In related news, insider Daniel J. Gill sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $475.24, for a total transaction of $19,009,600.00. Following the completion of the sale, the insider directly owned 191,106 shares in the company, valued at approximately $90,821,215.44. This trade represents a 17.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Stephen R. Palmer sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $419.48, for a total transaction of $419,480.00. Following the transaction, the vice president directly owned 38,744 shares in the company, valued at $16,252,333.12. The trade was a 2.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 467,626 shares of company stock worth $192,090,109. 17.12% of the stock is currently owned by company insiders.

Carvana Stock Down 3.8%

CVNA stock opened at $443.34 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. The firm has a market capitalization of $96.45 billion, a P/E ratio of 101.22, a P/E/G ratio of 1.06 and a beta of 3.54. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $485.33. The company’s 50 day simple moving average is $406.54 and its 200-day simple moving average is $372.21.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same period in the prior year, the business posted $0.64 EPS. The company’s revenue for the quarter was up 54.5% on a year-over-year basis. As a group, equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Carvana Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.