Arrowstreet Capital Limited Partnership Sells 138,120 Shares of Carvana Co. $CVNA

Arrowstreet Capital Limited Partnership lowered its stake in shares of Carvana Co. (NYSE:CVNA) by 24.1% in the fourth quarter, Holdings Channel reports. The firm owned 435,471 shares of the company’s stock after selling 138,120 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Carvana were worth $183,777,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Carvana during the fourth quarter worth approximately $29,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Carvana in the fourth quarter valued at approximately $29,000. Salomon & Ludwin LLC boosted its position in shares of Carvana by 112.5% in the fourth quarter. Salomon & Ludwin LLC now owns 85 shares of the company’s stock valued at $37,000 after acquiring an additional 45 shares during the period. Washington Trust Advisors Inc. bought a new stake in shares of Carvana in the third quarter valued at approximately $38,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Carvana in the second quarter valued at $38,000. Institutional investors own 56.71% of the company’s stock.

Carvana Stock Down 0.0%

Shares of Carvana stock opened at $64.09 on Monday. The business’s 50 day simple moving average is $71.20 and its 200 day simple moving average is $75.23. Carvana Co. has a 52-week low of $54.46 and a 52-week high of $97.38. The firm has a market cap of $70.30 billion, a PE ratio of 38.98, a P/E/G ratio of 10.82 and a beta of 3.45. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.12 billion. On average, analysts predict that Carvana Co. will post 1.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 63,750 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $62.07, for a total transaction of $3,956,962.50. Following the transaction, the chief financial officer owned 985,445 shares of the company’s stock, valued at $61,166,571.15. The trade was a 6.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas Taira sold 18,850 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $68.20, for a total value of $1,285,570.00. Following the transaction, the insider directly owned 292,820 shares in the company, valued at $19,970,324. This trade represents a 6.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 400,812 shares of company stock worth $28,039,446 over the last 90 days. Company insiders own 15.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. DA Davidson upped their target price on Carvana from $64.00 to $67.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Barclays set a $93.00 target price on Carvana and gave the company an “overweight” rating in a research note on Thursday, May 14th. Bank of America increased their price objective on Carvana from $72.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 21st. Stephens raised their target price on Carvana from $86.00 to $97.00 in a research note on Thursday, April 30th. Finally, Morgan Stanley raised their price target on Carvana from $90.00 to $102.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Carvana currently has an average rating of “Moderate Buy” and an average price target of $93.14.

About Carvana

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.