Carvana Co. (NYSE:CVNA) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its holdings in Carvana Co. (NYSE:CVNA) by 38.1% in the third quarter, Holdings Channel reports. The fund owned 423,873 shares of the company’s stock after selling 261,094 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Carvana were worth $73,801,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CVNA. Lazard Asset Management LLC raised its holdings in shares of Carvana by 21.2% during the 1st quarter. Lazard Asset Management LLC now owns 1,866 shares of the company’s stock worth $163,000 after acquiring an additional 326 shares during the period. California State Teachers Retirement System grew its stake in shares of Carvana by 1.3% in the 1st quarter. California State Teachers Retirement System now owns 97,707 shares of the company’s stock valued at $8,589,000 after buying an additional 1,221 shares during the period. Tidal Investments LLC acquired a new stake in shares of Carvana during the 1st quarter worth approximately $1,783,000. Plato Investment Management Ltd acquired a new stake in shares of Carvana during the 1st quarter worth approximately $55,000. Finally, Cetera Investment Advisers lifted its holdings in Carvana by 171.7% in the first quarter. Cetera Investment Advisers now owns 20,862 shares of the company’s stock valued at $1,834,000 after acquiring an additional 13,185 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Paul W. Breaux sold 14,548 shares of Carvana stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $198.00, for a total value of $2,880,504.00. Following the transaction, the insider now directly owns 119,494 shares in the company, valued at $23,659,812. This trade represents a 10.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark W. Jenkins sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $241.78, for a total transaction of $4,835,600.00. Following the transaction, the chief financial officer now owns 170,732 shares of the company’s stock, valued at approximately $41,279,582.96. The trade was a 10.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,118,063 shares of company stock valued at $389,949,579 over the last quarter. 17.12% of the stock is currently owned by insiders.

Carvana Price Performance

CVNA stock opened at $254.97 on Friday. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The company has a market capitalization of $52.94 billion, a P/E ratio of 25,497.00 and a beta of 3.37. The business has a 50 day simple moving average of $209.98 and a 200-day simple moving average of $157.41. Carvana Co. has a twelve month low of $29.84 and a twelve month high of $268.34.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. The company’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 earnings per share. As a group, equities analysts anticipate that Carvana Co. will post 0.76 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CVNA shares. Piper Sandler raised their target price on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. TD Cowen upped their target price on shares of Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $110.00 to $260.00 in a research report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on shares of Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Wedbush increased their price objective on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $217.71.

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.