AXQ Capital LP Reduces Holdings in Carvana Co. (NYSE:CVNA)

AXQ Capital LP cut its position in shares of Carvana Co. (NYSE:CVNA) by 25.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,460 shares of the company’s stock after selling 510 shares during the quarter. AXQ Capital LP’s holdings in Carvana were worth $297,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Fidelis Capital Partners LLC grew its holdings in shares of Carvana by 3.4% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after buying an additional 51 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Carvana by 2.8% during the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock worth $483,000 after buying an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Carvana by 21.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after buying an additional 74 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in Carvana by 2.1% in the fourth quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock valued at $752,000 after purchasing an additional 77 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in 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 purchasing an additional 78 shares during the period. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVNA has been the subject of a number of recent analyst reports. Citigroup boosted their target price on shares of Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a report on Friday, February 21st. William Blair restated an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. JPMorgan Chase & Co. boosted their target price on shares of Carvana from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Piper Sandler upgraded shares of Carvana from a “neutral” rating to an “overweight” rating and set a $225.00 target price for the company in a report on Thursday. Finally, Stephens reaffirmed an “overweight” rating and set a $300.00 price target on shares of Carvana in a research report on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $262.71.

Carvana Stock Up 3.2 %

Shares of NYSE:CVNA opened at $191.38 on Monday. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The company has a fifty day simple moving average of $227.57 and a 200 day simple moving average of $215.45. The firm has a market cap of $40.80 billion, a PE ratio of 121.90 and a beta of 3.56. Carvana Co. has a 12-month low of $67.61 and a 12-month high of $292.84.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 1.54% and a return on equity of 36.59%. On average, equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the business’s stock in a transaction on Monday, February 10th. The shares were 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 in the company, valued at $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the sale, the chief operating officer now owns 196,278 shares of the company’s stock, valued at approximately $35,033,660.22. The trade was a 20.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,784 shares of company stock worth $27,524,344. Insiders own 17.12% of the company’s stock.

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.