Blair William & Co. IL trimmed its stake in shares of Carvana Co (NYSE:CVNA) by 12.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 106,375 shares of the company’s stock after selling 15,544 shares during the quarter. Blair William & Co. IL owned about 0.08% of Carvana worth $6,286,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Whale Rock Capital Management LLC bought a new stake in shares of Carvana during the 2nd quarter valued at $35,039,000. 683 Capital Management LLC lifted its position in shares of Carvana by 11.4% during the 2nd quarter. 683 Capital Management LLC now owns 1,561,634 shares of the company’s stock worth $64,964,000 after buying an additional 160,294 shares during the last quarter. Fiera Capital Corp bought a new stake in shares of Carvana during the 2nd quarter worth $1,082,000. Russell Investments Group Ltd. lifted its position in shares of Carvana by 622.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 10,084 shares of the company’s stock worth $419,000 after buying an additional 8,689 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Carvana by 154.0% during the 2nd quarter. Northern Trust Corp now owns 380,552 shares of the company’s stock worth $15,831,000 after buying an additional 230,704 shares during the last quarter. Hedge funds and other institutional investors own 26.04% of the company’s stock.
Carvana stock opened at $43.29 on Monday. The company has a quick ratio of 1.30, a current ratio of 2.04 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of -35.78 and a beta of 2.13. Carvana Co has a 12 month low of $15.36 and a 12 month high of $72.59.
Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, November 7th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.03). The firm had revenue of $535.00 million during the quarter, compared to the consensus estimate of $509.09 million. Carvana had a negative net margin of 5.01% and a negative return on equity of 35.13%. Carvana’s revenue for the quarter was up 137.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.29) earnings per share. On average, research analysts anticipate that Carvana Co will post -1.61 EPS for the current year.
Several brokerages recently weighed in on CVNA. Wells Fargo & Co upped their price objective on Carvana from $60.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, October 1st. Zacks Investment Research downgraded Carvana from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. Barrington Research restated a “buy” rating and set a $50.00 price objective on shares of Carvana in a research report on Thursday, August 9th. Craig Hallum set a $48.00 price objective on Carvana and gave the stock a “hold” rating in a research report on Thursday, August 9th. Finally, B. Riley upped their price objective on Carvana from $38.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $59.14.
In other news, Director Michael E. Maroone bought 1,000 shares of the company’s stock in a transaction on Monday, November 26th. The stock was purchased at an average cost of $43.85 per share, for a total transaction of $43,850.00. Following the completion of the transaction, the director now owns 30,000 shares of the company’s stock, valued at $1,315,500. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Ddfs Partnership Lp sold 253,877 shares of the stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $69.30, for a total value of $17,593,676.10. The disclosure for this sale can be found here. Insiders sold 3,084,028 shares of company stock valued at $179,700,231 over the last quarter. Corporate insiders own 21.69% of the company’s stock.
Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up.
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