Mackenzie Financial Corp Sells 1,268 Shares of Carvana Co. (NYSE:CVNA)

Mackenzie Financial Corp lessened its position in shares of Carvana Co. (NYSE:CVNA) by 20.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,904 shares of the company’s stock after selling 1,268 shares during the quarter. Mackenzie Financial Corp’s holdings in Carvana were worth $260,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Blue Trust Inc. bought a new position in shares of Carvana during the 4th quarter worth approximately $29,000. Hanseatic Management Services Inc. acquired a new position in Carvana during the 3rd quarter valued at approximately $34,000. Harvest Fund Management Co. Ltd increased its stake in Carvana by 1,225.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock valued at $50,000 after purchasing an additional 1,103 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Carvana by 1,370.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,470 shares of the company’s stock valued at $62,000 after purchasing an additional 1,370 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in Carvana during the 3rd quarter valued at approximately $64,000. Institutional investors own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of NYSE CVNA opened at $84.31 on Monday. The company has a market capitalization of $17.02 billion, a PE ratio of 156.13 and a beta of 3.32. Carvana Co. has a 1 year low of $6.70 and a 1 year high of $94.04. The company’s fifty day moving average price is $77.47 and its 200 day moving average price is $53.92.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.97) earnings per share. On average, equities analysts expect that Carvana Co. will post -3.32 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on CVNA. Wedbush restated a “neutral” rating and set a $80.00 price target (up previously from $60.00) on shares of Carvana in a research note on Thursday. Jefferies Financial Group upgraded shares of Carvana from an “underperform” rating to a “hold” rating and upped their price target for the company from $30.00 to $85.00 in a research note on Tuesday, March 12th. Morgan Stanley upped their price target on shares of Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, February 26th. Evercore ISI cut their price objective on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Finally, Raymond James upgraded shares of Carvana from an “underperform” rating to a “market perform” rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Carvana currently has an average rating of “Hold” and a consensus price target of $55.87.

Insider Buying and Selling at Carvana

In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $86.75, for a total transaction of $433,750.00. Following the transaction, the vice president now directly owns 62,514 shares of the company’s stock, valued at $5,423,089.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Stephen R. Palmer sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $86.75, for a total value of $433,750.00. Following the transaction, the vice president now directly owns 62,514 shares of the company’s stock, valued at $5,423,089.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul W. Breaux sold 15,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the completion of the transaction, the insider now directly owns 150,126 shares in the company, valued at $10,358,694. The disclosure for this sale can be found here. Insiders have sold a total of 187,883 shares of company stock valued at $15,505,178 over the last ninety days. Corporate insiders own 17.12% of the company’s stock.

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.