Corient Private Wealth LLC Sells 1,973 Shares of Carvana Co. (NYSE:CVNA)

Corient Private Wealth LLC lowered its position in shares of Carvana Co. (NYSE:CVNA) by 21.8% in the 4th quarter, HoldingsChannel reports. The firm owned 7,093 shares of the company’s stock after selling 1,973 shares during the quarter. Corient Private Wealth LLC’s holdings in Carvana were worth $1,442,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVNA. FMR LLC lifted its position in Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after buying an additional 5,882,656 shares during the last quarter. Whale Rock Capital Management LLC bought a new stake in shares of Carvana in the 3rd quarter worth approximately $162,953,000. Lord Abbett & CO. LLC boosted its stake in shares of Carvana by 1,454.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock valued at $93,754,000 after purchasing an additional 503,824 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Carvana during the 4th quarter valued at $60,866,000. Finally, Holocene Advisors LP raised its position in Carvana by 108.2% in the 3rd quarter. Holocene Advisors LP now owns 554,112 shares of the company’s stock worth $96,476,000 after purchasing an additional 287,983 shares during the period. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Stock Up 3.6 %

CVNA stock opened at $221.27 on Wednesday. The company has a market capitalization of $47.17 billion, a price-to-earnings ratio of 140.94 and a beta of 3.56. 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 business’s 50 day moving average price is $228.48 and its two-hundred day moving average price is $216.58. Carvana Co. has a fifty-two week low of $67.61 and a fifty-two week high of $292.84.

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

Analysts Set New Price Targets

CVNA has been the subject of several analyst reports. Morgan Stanley upgraded shares of Carvana from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $260.00 to $280.00 in a research report on Tuesday. Royal Bank of Canada increased their target price on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Wedbush set a $250.00 price target on Carvana and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Piper Sandler raised Carvana from a “neutral” rating to an “overweight” rating and set a $225.00 price objective for the company in a research note on Thursday, March 20th. Finally, Citigroup lifted their target price on shares of Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and a consensus price target of $263.88.

Insiders Place Their Bets

In other news, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the sale, the chief operating officer now directly owns 196,278 shares of the company’s stock, valued at approximately $35,033,660.22. This represents a 20.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the transaction, the insider now directly owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,784 shares of company stock worth $27,524,344. 17.12% of the stock is currently owned by company insiders.

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.