Carvana Co. (NYSE:CVNA) Shares Sold by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC trimmed its holdings in Carvana Co. (NYSE:CVNA) by 52.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,810 shares of the company’s stock after selling 45,270 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Carvana were worth $2,160,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Morgan Stanley boosted its holdings in shares of Carvana by 65.1% in the fourth quarter. Morgan Stanley now owns 14,083,153 shares of the company’s stock valued at $66,754,000 after acquiring an additional 5,554,691 shares during the period. Spruce House Investment Management LLC boosted its holdings in shares of Carvana by 52.7% in the fourth quarter. Spruce House Investment Management LLC now owns 10,000,000 shares of the company’s stock valued at $47,400,000 after acquiring an additional 3,450,000 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Carvana in the fourth quarter valued at approximately $14,102,000. FMR LLC boosted its holdings in shares of Carvana by 143.7% in the first quarter. FMR LLC now owns 4,667,263 shares of the company’s stock valued at $45,693,000 after acquiring an additional 2,752,097 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Carvana by 46.8% in the first quarter. Vanguard Group Inc. now owns 7,297,426 shares of the company’s stock valued at $870,511,000 after acquiring an additional 2,325,545 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Stock Down 7.0 %

Shares of CVNA stock opened at $69.77 on Tuesday. Carvana Co. has a fifty-two week low of $6.70 and a fifty-two week high of $94.04. The stock has a market cap of $14.09 billion, a P/E ratio of 129.21 and a beta of 3.32. The business has a fifty day simple moving average of $73.60 and a 200-day simple moving average of $51.66.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.56 billion. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.97) EPS. On average, sell-side analysts anticipate that Carvana Co. will post -3.4 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Mark W. Jenkins sold 55,000 shares of Carvana stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $86.76, for a total transaction of $4,771,800.00. Following the completion of the sale, the chief financial officer now owns 178,156 shares in the company, valued at approximately $15,456,814.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Carvana news, insider Paul W. Breaux sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $89.00, for a total value of $1,780,000.00. Following the sale, the insider now directly owns 115,032 shares of the company’s stock, valued at approximately $10,237,848. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 55,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $86.76, for a total value of $4,771,800.00. Following the completion of the sale, the chief financial officer now directly owns 178,156 shares in the company, valued at $15,456,814.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 187,883 shares of company stock worth $15,505,178. 17.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CVNA has been the subject of several recent research reports. William Blair raised Carvana from a “market perform” rating to an “outperform” rating in a report on Friday, February 23rd. JMP Securities increased their price objective on Carvana from $60.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Friday, February 23rd. Wedbush increased their price objective on Carvana from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. Morgan Stanley increased their price objective on Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, February 26th. Finally, Raymond James upgraded Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Carvana has a consensus rating of “Hold” and a consensus price target of $50.60.

Carvana 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.