Carvana Co. (NYSE:CVNA) Shares Sold by AlphaQuest LLC

AlphaQuest LLC reduced its holdings in shares of Carvana Co. (NYSE:CVNA) by 94.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 421 shares of the company’s stock after selling 7,780 shares during the quarter. AlphaQuest LLC’s holdings in Carvana were worth $86,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Quent Capital LLC acquired a new position in Carvana during the 4th quarter worth $28,000. Global Retirement Partners LLC lifted its position in shares of Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after purchasing an additional 78 shares during the last quarter. Rialto Wealth Management LLC acquired a new position in Carvana in the fourth quarter worth about $31,000. ORG Wealth Partners LLC bought a new stake in Carvana in the fourth quarter valued at about $34,000. Finally, Versant Capital Management Inc acquired a new stake in Carvana during the fourth quarter valued at approximately $42,000. Institutional investors own 56.71% of the company’s stock.

Carvana Stock Down 10.6 %

Carvana stock opened at $166.65 on Wednesday. Carvana Co. has a 52 week low of $67.61 and a 52 week high of $292.84. The stock has a market cap of $35.52 billion, a price-to-earnings ratio of 106.14 and a beta of 3.56. The company’s 50-day moving average price is $228.25 and its two-hundred day moving average price is $214.65. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. On average, analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Activity at Carvana

In related news, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 196,278 shares in the company, valued at approximately $35,033,660.22. This trade represents a 20.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $250.12, for a total value of $2,501,200.00. Following the sale, the chief financial officer now owns 219,962 shares of the company’s stock, valued at $55,016,895.44. This trade represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,784 shares of company stock valued at $27,524,344 over the last 90 days. 17.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CVNA has been the subject of a number of research analyst reports. DA Davidson boosted their price target on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Robert W. Baird increased their target price on shares of Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and issued a $340.00 price target on shares of Carvana in a research report on Friday, March 7th. Wells Fargo & Company dropped their price objective on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, Royal Bank of Canada lifted their target price on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Carvana has an average rating of “Moderate Buy” and an average price target of $262.71.

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.