K.J. Harrison & Partners Inc Sells 8,000 Shares of Carvana Co. (NYSE:CVNA)

K.J. Harrison & Partners Inc trimmed its position in Carvana Co. (NYSE:CVNA) by 66.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,000 shares of the company’s stock after selling 8,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Carvana were worth $798,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Quent Capital LLC bought a new position in Carvana in the fourth quarter valued at about $28,000. Global Retirement Partners LLC increased its stake in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after buying an additional 78 shares during the period. ORG Wealth Partners LLC bought a new position in Carvana in the 4th quarter valued at approximately $34,000. Capital Performance Advisors LLP bought a new position in Carvana in the 3rd quarter valued at approximately $40,000. Finally, Versant Capital Management Inc acquired a new stake in Carvana during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insiders Place Their Bets

In other Carvana news, CFO Mark W. Jenkins sold 28,422 shares of Carvana stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the transaction, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at $63,536,023.70. The trade was a 11.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the sale, the insider now owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 173,629 shares of company stock valued at $44,833,799. Corporate insiders own 17.18% of the company’s stock.

Wall Street Analyst Weigh In

CVNA has been the subject of several recent research reports. JMP Securities restated a “market outperform” rating and issued a $320.00 price target on shares of Carvana in a research report on Monday, December 16th. Bank of America lifted their target price on Carvana from $252.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Robert W. Baird increased their price target on Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Wells Fargo & Company cut their price objective on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, Citigroup boosted their price target on shares of Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Carvana has a consensus rating of “Moderate Buy” and an average price target of $265.06.

Carvana Price Performance

Shares of NYSE:CVNA opened at $232.08 on Thursday. The firm has a market capitalization of $48.19 billion, a price-to-earnings ratio of 147.82 and a beta of 3.37. The stock’s 50 day moving average is $232.88 and its 200-day moving average is $210.17. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. Carvana Co. has a twelve month low of $67.61 and a twelve month high of $292.84.

Carvana (NYSE:CVNA) last issued its quarterly earnings data 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. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Sell-side analysts forecast 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.