Carvana Co. (NYSE:CVNA) Stock Holdings Cut by GSA Capital Partners LLP

GSA Capital Partners LLP cut its stake in shares of Carvana Co. (NYSE:CVNA) by 42.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,317 shares of the company’s stock after selling 1,715 shares during the quarter. GSA Capital Partners LLP’s holdings in Carvana were worth $403,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of Carvana by 39.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after acquiring an additional 2,112,463 shares in the last quarter. Sylebra Capital LLC purchased a new stake in shares of Carvana during the second quarter worth $67,686,000. Senator Investment Group LP purchased a new stake in shares of Carvana during the second quarter worth $63,767,000. Driehaus Capital Management LLC raised its holdings in Carvana by 124.9% during the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after buying an additional 323,153 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Carvana during the second quarter valued at about $39,997,000. 56.71% of the stock is owned by institutional investors.

Insider Activity

In related news, COO Benjamin E. Huston sold 3,043 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $240.00, for a total transaction of $730,320.00. Following the transaction, the chief operating officer now directly owns 218,686 shares in the company, valued at approximately $52,484,640. The trade was a 1.37 % 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 20,000 shares of Carvana stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 170,732 shares in the company, valued at approximately $41,279,582.96. This represents a 10.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,327,249 shares of company stock valued at $421,876,322. Insiders own 17.12% of the company’s stock.

Carvana Stock Performance

NYSE CVNA opened at $247.68 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 firm has a market capitalization of $51.43 billion, a price-to-earnings ratio of 24,792.91 and a beta of 3.37. The firm’s 50 day simple moving average is $201.61 and its 200 day simple moving average is $153.27. Carvana Co. has a 1 year low of $29.84 and a 1 year high of $259.39.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the prior year, the business earned $0.23 EPS. The business’s quarterly revenue was up 31.8% on a year-over-year basis. As a group, research analysts expect that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CVNA. Bank of America raised their price target on Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Citigroup lifted their price objective on Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Evercore ISI lifted their price objective on Carvana from $186.00 to $190.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Robert W. Baird lifted their target price 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. Finally, Wells Fargo & Company boosted their price objective on shares of Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Carvana has a consensus rating of “Hold” and a consensus target price of $217.71.

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.