Ensign Peak Advisors Inc Reduces Stock Position in Carvana Co. (NYSE:CVNA)

Ensign Peak Advisors Inc cut its stake in Carvana Co. (NYSE:CVNA – Get Rating) by 42.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,856 shares of the company’s stock after selling 25,463 shares during the period. Ensign Peak Advisors Inc’s holdings in Carvana were worth $687,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Carvana by 12.4% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 439,402 shares of the company’s stock valued at $9,922,000 after buying an additional 48,522 shares in the last quarter. Forsta AP Fonden purchased a new position in shares of Carvana during the 2nd quarter worth approximately $72,000. State Board of Administration of Florida Retirement System increased its stake in shares of Carvana by 20.1% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 109,638 shares of the company’s stock worth $2,476,000 after purchasing an additional 18,327 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in shares of Carvana during the 2nd quarter worth approximately $3,047,000. Finally, Versor Investments LP increased its stake in shares of Carvana by 152.5% during the 3rd quarter. Versor Investments LP now owns 47,546 shares of the company’s stock worth $965,000 after purchasing an additional 28,714 shares in the last quarter. 63.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CVNA. Bank Of America (Bofa) cut shares of Carvana to a “neutral” rating in a research note on Wednesday, November 30th. Wedbush reissued an “underperform” rating on shares of Carvana in a research note on Friday, February 24th. Truist Financial lowered shares of Carvana from a “buy” rating to a “hold” rating in a research report on Wednesday, December 21st. Oppenheimer lowered shares of Carvana from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 15th. Finally, Cowen lowered 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 two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $37.80.

Carvana Stock Performance

NYSE:CVNA opened at $7.48 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.05 and a debt-to-equity ratio of 17.69. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -0.48 and a beta of 2.80. The firm’s fifty day simple moving average is $8.86 and its 200 day simple moving average is $13.93. Carvana Co. has a twelve month low of $3.55 and a twelve month high of $150.84.

Carvana (NYSE:CVNA – Get Rating) last posted its earnings results on Thursday, February 23rd. The company reported ($0.97) earnings per share for the quarter, beating the consensus estimate of ($2.30) by $1.33. Carvana had a negative net margin of 11.67% and a negative return on equity of 1,491.81%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.02 billion. As a group, equities research analysts expect that Carvana Co. will post -7.5 earnings per share for the current fiscal year.

Carvana Company Profile

(Get Rating)

Carvana Co is a holding company and an eCommerce platform, which engages in the buying and selling of used cars. The company was founded by Ernest Garcia, III, Benjamin Huston and Ryan Keeton in 2012 and is headquartered in Tempe, AZ.