Motley Fool Asset Management LLC Cuts Stake in Carvana Co. (NYSE:CVNA)

Motley Fool Asset Management LLC reduced its stake in Carvana Co. (NYSE:CVNA) by 2.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 1,698 shares of the company’s stock after selling 49 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Carvana were worth $299,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Forum Financial Management LP lifted its holdings in Carvana by 3.8% during the third 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 last quarter. Empirical Asset Management LLC lifted its holdings in Carvana by 2.0% during the third quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock valued at $890,000 after purchasing an additional 100 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Carvana by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,366 shares of the company’s stock valued at $586,000 after purchasing an additional 115 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in Carvana by 6.0% during the third quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock valued at $402,000 after purchasing an additional 130 shares during the last quarter. Finally, CWM LLC lifted its holdings in Carvana by 19.5% during the second 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. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Up 1.7 %

Shares of Carvana stock opened at $260.07 on Thursday. 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 Co. has a 52-week low of $36.53 and a 52-week high of $268.34. The stock has a market capitalization of $54.00 billion, a price-to-earnings ratio of 26,007.00 and a beta of 3.32. The company’s 50 day moving average price is $216.65 and its 200-day moving average price is $161.56.

Carvana (NYSE:CVNA) last issued its earnings results 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 firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the business posted $0.23 EPS. The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. Equities research analysts forecast that Carvana Co. will post 0.76 EPS for the current year.

Analyst Upgrades and Downgrades

CVNA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Needham & Company LLC increased their price target on shares of Carvana from $200.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Wedbush increased their price target on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Wells Fargo & Company increased their price target on shares of Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, JMP Securities increased their price target on shares of Carvana from $200.00 to $320.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Carvana has a consensus rating of “Hold” and an average target price of $220.94.

Insider Transactions at Carvana

In related news, COO Benjamin E. Huston sold 3,043 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $240.00, for a total value of $730,320.00. Following the completion of the sale, the chief operating officer now owns 218,686 shares of the company’s stock, valued at $52,484,640. This trade represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s 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 completion of the sale, the insider now directly owns 40,583,131 shares of the company’s stock, valued at $5,508,348,370.63. The trade was a 0.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,097,063 shares of company stock worth $393,287,959. Insiders own 17.12% of the company’s stock.

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.