Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Sells 87,129 Shares of Carvana Co. (NYSE:CVNA)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. trimmed its holdings in Carvana Co. (NYSE:CVNAGet Rating) by 77.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 25,660 shares of the company’s stock after selling 87,129 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Carvana were worth $521,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CVNA. US Bancorp DE increased its holdings in Carvana by 248.0% in the 1st quarter. US Bancorp DE now owns 1,646 shares of the company’s stock valued at $197,000 after acquiring an additional 1,173 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Carvana during the 1st quarter worth approximately $603,000. Panagora Asset Management Inc. boosted its position in shares of Carvana by 86.7% during the 1st quarter. Panagora Asset Management Inc. now owns 3,022 shares of the company’s stock valued at $360,000 after acquiring an additional 1,403 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Carvana by 2.4% in the first quarter. Great West Life Assurance Co. Can now owns 69,919 shares of the company’s stock valued at $8,842,000 after purchasing an additional 1,636 shares in the last quarter. Finally, Aviva PLC increased its position in Carvana by 62.5% in the first quarter. Aviva PLC now owns 41,710 shares of the company’s stock worth $4,976,000 after purchasing an additional 16,037 shares during the last quarter. 63.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on CVNA. Cowen cut shares of Carvana from an “outperform” rating to a “market perform” rating in a research note on Monday, November 21st. Citigroup restated a “neutral” rating on shares of Carvana in a research report on Tuesday, December 13th. Bank of America downgraded Carvana from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 30th. Needham & Company LLC downgraded Carvana from a “buy” rating to a “hold” rating in a research report on Friday, December 9th. Finally, Cowen cut shares of Carvana from an “outperform” rating to a “market perform” rating in a research report on Monday, November 21st. Two research analysts have rated the stock with a sell rating, twenty have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $43.65.

Insider Buying and Selling

In related news, Director Michael E. Maroone bought 100,000 shares of the business’s stock in a transaction on Monday, November 7th. The shares were bought at an average price of $8.61 per share, for a total transaction of $861,000.00. Following the completion of the purchase, the director now directly owns 154,392 shares of the company’s stock, valued at $1,329,315.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Michael E. Maroone acquired 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The stock was purchased at an average cost of $8.61 per share, with a total value of $861,000.00. Following the transaction, the director now directly owns 154,392 shares of the company’s stock, valued at approximately $1,329,315.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas Taira acquired 10,000 shares of Carvana stock in a transaction dated Friday, November 11th. The stock was purchased at an average price of $11.13 per share, with a total value of $111,300.00. Following the completion of the purchase, the insider now owns 42,518 shares of the company’s stock, valued at $473,225.34. The disclosure for this purchase can be found here. Insiders acquired 251,000 shares of company stock valued at $2,065,760 over the last 90 days. Corporate insiders own 17.67% of the company’s stock.

Carvana Stock Performance

Shares of Carvana stock opened at $6.49 on Friday. The company has a current ratio of 2.38, a quick ratio of 1.01 and a debt-to-equity ratio of 17.69. The stock’s fifty day moving average price is $6.07 and its 200-day moving average price is $19.81. The firm has a market cap of $1.23 billion, a P/E ratio of -0.73 and a beta of 2.41. Carvana Co. has a 12 month low of $3.55 and a 12 month high of $167.00.

Carvana (NYSE:CVNAGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($2.67) EPS for the quarter, missing the consensus estimate of ($2.02) by ($0.65). Carvana had a negative net margin of 5.99% and a negative return on equity of 191.74%. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.64 billion. On average, equities research analysts expect that Carvana Co. will post -9.88 earnings per share for the current fiscal year.

Carvana Profile

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Carvana Co is a holding company and an eCommerce platform, engages in the buying of used cars and provision of different and convenient car buying experiences. It operates through the following segments: Vehicle Sales, Wholesale Vehicle Sales, and Other Sales and Revenue. The Vehicle Sales segment consists of used vehicle sales to customers through its website.

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Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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