Carvana Co. $CVNA Shares Sold by AlphaQuest LLC

AlphaQuest LLC cut its holdings in shares of Carvana Co. (NYSE:CVNA) by 28.7% during the first quarter, HoldingsChannel.com reports. The firm owned 300 shares of the company’s stock after selling 121 shares during the period. AlphaQuest LLC’s holdings in Carvana were worth $63,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Compound Planning Inc. increased its position in shares of Carvana by 16.9% during the first quarter. Compound Planning Inc. now owns 2,110 shares of the company’s stock worth $441,000 after purchasing an additional 305 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Carvana by 13.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after purchasing an additional 1,823,218 shares in the last quarter. Candriam S.C.A. increased its position in shares of Carvana by 4.7% during the first quarter. Candriam S.C.A. now owns 7,857 shares of the company’s stock worth $1,643,000 after purchasing an additional 351 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Carvana by 1.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 692,725 shares of the company’s stock worth $144,835,000 after purchasing an additional 9,694 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Carvana by 69.0% during the first quarter. Hsbc Holdings PLC now owns 72,632 shares of the company’s stock worth $15,247,000 after purchasing an additional 29,658 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Carvana

In other Carvana news, VP Stephen R. Palmer sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $361.04, for a total value of $361,040.00. Following the sale, the vice president directly owned 45,157 shares of the company’s stock, valued at approximately $16,303,483.28. This represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 12,750 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $364.42, for a total transaction of $4,646,355.00. Following the completion of the sale, the chief financial officer directly owned 208,581 shares in the company, valued at approximately $76,011,088.02. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,698,333 shares of company stock valued at $948,956,369 in the last three months. Company insiders own 17.12% of the company’s stock.

Carvana Price Performance

NYSE:CVNA opened at $362.45 on Thursday. Carvana Co. has a one year low of $124.39 and a one year high of $413.33. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The firm has a market cap of $78.00 billion, a price-to-earnings ratio of 90.84, a PEG ratio of 1.23 and a beta of 3.51. The firm’s fifty day moving average is $349.56 and its two-hundred day moving average is $284.40.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the company earned ($0.05) earnings per share. The firm’s revenue was up 41.9% on a year-over-year basis. Research analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CVNA shares. Morgan Stanley upped their price target on Carvana from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Evercore ISI upped their price target on Carvana from $365.00 to $370.00 and gave the stock an “in-line” rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. upped their price target on Carvana from $350.00 to $415.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Wall Street Zen raised Carvana from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Finally, William Blair reissued an “outperform” rating on shares of Carvana in a research report on Wednesday, July 23rd. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $383.47.

Carvana 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.