Mirae Asset Global Investments Co. Ltd. Decreases Stock Position in Carvana Co. (NYSE:CVNA)

Mirae Asset Global Investments Co. Ltd. decreased its position in shares of Carvana Co. (NYSE:CVNA) by 8.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,448 shares of the company’s stock after selling 7,238 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Carvana were worth $3,994,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new position in shares of Carvana during the 4th quarter valued at approximately $29,000. Vanguard Group Inc. boosted its stake in Carvana by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock valued at $393,268,000 after acquiring an additional 62,820 shares during the last quarter. Quantbot Technologies LP bought a new position in Carvana during the 3rd quarter valued at $2,879,000. Charles Schwab Investment Management Inc. grew its holdings in Carvana by 56.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock worth $32,684,000 after acquiring an additional 280,851 shares in the last quarter. Finally, TD Asset Management Inc bought a new stake in shares of Carvana in the 3rd quarter worth about $22,906,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Activity

In related news, insider Thomas Taira sold 4,197 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $82.84, for a total value of $347,679.48. Following the completion of the transaction, the insider now directly owns 164,827 shares of the company’s stock, valued at approximately $13,654,268.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Thomas Taira sold 4,197 shares of Carvana stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $82.84, for a total transaction of $347,679.48. Following the sale, the insider now directly owns 164,827 shares in the company, valued at $13,654,268.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 55,000 shares of the company’s 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 directly owns 178,156 shares of the company’s stock, valued at approximately $15,456,814.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 187,883 shares of company stock valued at $15,505,178. Insiders own 17.18% of the company’s stock.

Carvana Stock Performance

CVNA stock opened at $70.60 on Wednesday. The stock’s fifty day moving average is $74.05 and its two-hundred day moving average is $51.87. The stock has a market capitalization of $14.25 billion, a price-to-earnings ratio of 130.74 and a beta of 3.32. Carvana Co. has a 1 year low of $6.70 and a 1 year high of $94.04.

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

Wall Street Analyst Weigh In

CVNA has been the topic of several research analyst reports. William Blair raised shares of Carvana from a “market perform” rating to an “outperform” rating in a research report on Friday, February 23rd. Raymond James raised Carvana from an “underperform” rating to a “market perform” rating in a report on Friday, February 23rd. Wedbush lifted their target price 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 upped their price target on Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, February 26th. Finally, Evercore ISI decreased their price objective on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $50.53.

About Carvana

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.