Fmr LLC Sells 2,700,110 Shares of Carvana Co. (NYSE:CVNA)

Fmr LLC lessened its position in Carvana Co. (NYSE:CVNA) by 21.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,661,680 shares of the company’s stock after selling 2,700,110 shares during the quarter. Fmr LLC owned about 4.65% of Carvana worth $1,964,799,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVNA. Norges Bank acquired a new position in Carvana during the 4th quarter valued at $179,364,000. Vanguard Group Inc. increased its holdings in shares of Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock worth $2,323,463,000 after purchasing an additional 610,234 shares during the period. Lord Abbett & CO. LLC raised its position in shares of Carvana by 1,454.1% during the third quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock valued at $93,754,000 after buying an additional 503,824 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Carvana in the fourth quarter valued at about $86,636,000. Finally, Raymond James Financial Inc. acquired a new stake in Carvana during the fourth quarter worth about $60,866,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CVNA. Bank of America cut their price target on Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a report on Friday, March 14th. Stephens reaffirmed an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research report on Monday, March 3rd. Piper Sandler upgraded shares of Carvana from a “neutral” rating to an “overweight” rating in a research note on Monday, March 31st. Royal Bank of Canada increased their price objective on shares of Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, DA Davidson lifted their target price on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Carvana presently has an average rating of “Moderate Buy” and a consensus target price of $258.59.

Insider Activity

In other news, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the completion of the sale, the chief financial officer now owns 219,962 shares in the company, valued at $55,016,895.44. The trade was a 4.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas Taira sold 27,593 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the completion of the transaction, the insider now owns 179,673 shares in the company, valued at $40,431,815.19. This represents a 13.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 280,810 shares of company stock valued at $61,698,820 over the last three months. 17.12% of the stock is owned by insiders.

Carvana Trading Down 10.6 %

Shares of CVNA opened at $162.54 on Monday. The stock has a fifty day moving average price of $223.47 and a two-hundred day moving average price of $219.76. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The company has a market cap of $34.65 billion, a price-to-earnings ratio of 103.53 and a beta of 3.61. Carvana Co. has a 52-week low of $67.61 and a 52-week high of $292.84.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal 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.