Rational Advisors LLC Cuts Stake in Carvana Co (NYSE:CVNA)

Rational Advisors LLC lowered its stake in shares of Carvana Co (NYSE:CVNA) by 25.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,500 shares of the company’s stock after selling 5,500 shares during the period. Rational Advisors LLC’s holdings in Carvana were worth $1,089,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Resources Investment Advisors LLC. grew its stake in Carvana by 150.0% during the 2nd quarter. Resources Investment Advisors LLC. now owns 500 shares of the company’s stock valued at $31,000 after acquiring an additional 300 shares in the last quarter. Aperio Group LLC purchased a new stake in Carvana during the 2nd quarter valued at about $75,000. FNY Investment Advisers LLC grew its stake in Carvana by 12,800.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 1,290 shares of the company’s stock valued at $80,000 after acquiring an additional 1,280 shares in the last quarter. Meridian Wealth Management LLC purchased a new stake in Carvana during the 2nd quarter valued at about $118,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Carvana during the 2nd quarter valued at about $158,000. 37.11% of the stock is owned by institutional investors and hedge funds.

Several analysts recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of Carvana from $65.00 to $68.00 and gave the company a “market perform” rating in a research note on Thursday, August 8th. Bank of America reaffirmed a “buy” rating and set a $86.00 price objective (up previously from $82.00) on shares of Carvana in a research note on Thursday, August 8th. Morgan Stanley reiterated an “underweight” rating and issued a $30.00 target price (up from $29.00) on shares of Carvana in a report on Tuesday, October 15th. Wedbush boosted their target price on shares of Carvana from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Carvana in a report on Thursday, September 26th. They issued a “neutral” rating and a $75.00 target price on the stock. Three analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $79.40.

In other Carvana news, Director Ira J. Platt sold 13,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $82.54, for a total transaction of $1,073,020.00. Following the sale, the director now directly owns 35,382 shares in the company, valued at approximately $2,920,430.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ira J. Platt sold 1,300 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $84.50, for a total transaction of $109,850.00. Following the sale, the director now owns 23,682 shares in the company, valued at $2,001,129. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,000 shares of company stock worth $2,087,127. Company insiders own 13.02% of the company’s stock.

Shares of CVNA stock traded down $3.01 during trading hours on Wednesday, hitting $75.19. The company had a trading volume of 1,268,536 shares, compared to its average volume of 1,690,962. The company’s fifty day moving average is $74.26 and its 200 day moving average is $70.22. The company has a debt-to-equity ratio of 2.78, a current ratio of 2.16 and a quick ratio of 0.92. Carvana Co has a fifty-two week low of $28.44 and a fifty-two week high of $85.97. The stock has a market capitalization of $11.73 billion, a PE ratio of -43.46 and a beta of 2.20.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.17). Carvana had a negative return on equity of 57.46% and a negative net margin of 3.59%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $997.46 million. During the same quarter in the prior year, the company posted ($0.40) earnings per share. The business’s revenue was up 104.7% compared to the same quarter last year. Equities analysts forecast that Carvana Co will post -2.06 earnings per share for the current year.

About Carvana

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 proprietary 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.

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Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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