Carvana Co. (NYSE:CVNA) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in Carvana Co. (NYSE:CVNA) by 55.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,321 shares of the company’s stock after selling 14,077 shares during the period. Thrivent Financial for Lutherans’ holdings in Carvana were worth $1,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Forum Financial Management LP boosted its position in shares of Carvana by 3.8% in the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock valued at $361,000 after purchasing an additional 76 shares during the period. Empirical Asset Management LLC boosted its holdings in shares of Carvana by 2.0% in the third quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock valued at $890,000 after acquiring an additional 100 shares during the period. CIBC Asset Management Inc grew its position in shares of Carvana by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,366 shares of the company’s stock worth $586,000 after acquiring an additional 115 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in shares of Carvana by 6.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock valued at $402,000 after acquiring an additional 130 shares during the period. Finally, CWM LLC raised its position in Carvana by 19.5% in the 2nd quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after purchasing an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on CVNA shares. Robert W. Baird lifted their price objective on shares of Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JMP Securities boosted their price target on Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Evercore ISI increased their price objective on Carvana from $186.00 to $190.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, TD Cowen lifted their price objective on shares of Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. 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, Carvana currently has a consensus rating of “Hold” and a consensus target price of $217.71.

Insider Buying and Selling at Carvana

In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction on Monday, September 9th. The stock was sold at an average price of $135.73, for a total value of $10,179,750.00. Following the transaction, the insider now owns 40,583,131 shares in the company, valued at approximately $5,508,348,370.63. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul W. Breaux sold 14,548 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $198.00, for a total value of $2,880,504.00. Following the sale, the insider now owns 119,494 shares of the company’s stock, valued at $23,659,812. This represents a 10.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,118,063 shares of company stock worth $389,949,579 in the last 90 days. 17.12% of the stock is owned by company insiders.

Carvana Stock Performance

Shares of CVNA opened at $254.97 on Friday. Carvana Co. has a 1 year low of $29.84 and a 1 year high of $268.34. The company’s 50 day simple moving average is $209.98 and its 200 day simple moving average is $157.41. The company has a market capitalization of $52.94 billion, a price-to-earnings ratio of 25,497.00 and a beta of 3.37. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25.

Carvana (NYSE:CVNA) last posted 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 analyst estimates of $3.47 billion. Carvana’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 EPS. On average, sell-side analysts predict that Carvana Co. will post 0.76 EPS 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 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.