Carvana Co. (NYSE:CVNA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in Carvana Co. (NYSE:CVNA) by 8.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 438,823 shares of the company’s stock after selling 39,665 shares during the period. Bank of New York Mellon Corp’s holdings in Carvana were worth $91,749,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVNA. Transce3nd LLC purchased a new position in Carvana in the fourth quarter valued at $48,000. Versant Capital Management Inc boosted its holdings in Carvana by 39.4% in the first quarter. Versant Capital Management Inc now owns 290 shares of the company’s stock valued at $61,000 after purchasing an additional 82 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Carvana in the fourth quarter valued at $75,000. EverSource Wealth Advisors LLC boosted its holdings in Carvana by 21.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock valued at $87,000 after purchasing an additional 74 shares during the period. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in Carvana in the fourth quarter valued at $98,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CVNA. Stephens lifted their target price on Carvana from $300.00 to $375.00 and gave the company an “overweight” rating in a report on Monday. Evercore ISI lifted their target price on Carvana from $295.00 to $305.00 and gave the company an “in-line” rating in a report on Tuesday, June 24th. Wall Street Zen upgraded Carvana from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. Morgan Stanley lifted their target price on Carvana from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Finally, Wedbush raised Carvana to a “hold” rating in a report on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and a consensus target price of $303.59.

Insider Transactions at Carvana

In other news, insider Daniel J. Gill sold 7,100 shares of Carvana stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $350.00, for a total transaction of $2,485,000.00. Following the sale, the insider owned 197,832 shares in the company, valued at approximately $69,241,200. The trade was a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $353.76, for a total value of $35,376,000.00. Following the completion of the transaction, the insider owned 36,437,346 shares in the company, valued at $12,890,075,520.96. This trade represents a 0.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,526,961 shares of company stock worth $495,828,642. Corporate insiders own 17.12% of the company’s stock.

Carvana Stock Down 1.5%

CVNA opened at $345.99 on Friday. The business’s 50-day simple moving average is $314.24 and its 200-day simple moving average is $251.63. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. Carvana Co. has a one year low of $118.50 and a one year high of $364.00. The stock has a market capitalization of $74.09 billion, a P/E ratio of 121.40, a price-to-earnings-growth ratio of 1.37 and a beta of 3.59.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The business’s revenue was up 38.3% compared to the same quarter last year. Analysts anticipate that Carvana Co. will post 2.85 EPS 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.