Gotham Asset Management LLC Decreases Stake in Carvana Co. (NYSE:CVNA)

Gotham Asset Management LLC lowered its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 55.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,224 shares of the company's stock after selling 52,533 shares during the quarter. Gotham Asset Management LLC's holdings in Carvana were worth $8,587,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quent Capital LLC acquired a new stake in shares of Carvana in the 4th quarter valued at $28,000. Global Retirement Partners LLC lifted its position in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after buying an additional 78 shares in the last quarter. Rialto Wealth Management LLC acquired a new position in Carvana during the 4th quarter worth about $31,000. Venturi Wealth Management LLC lifted its position in Carvana by 79.2% during the 4th quarter. Venturi Wealth Management LLC now owns 224 shares of the company's stock valued at $46,000 after purchasing an additional 99 shares during the period. Finally, Transce3nd LLC acquired a new position in Carvana during the 4th quarter valued at about $48,000. Institutional investors own 56.71% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CVNA. Robert W. Baird increased their price target on shares of Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. DA Davidson increased their price target on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Morgan Stanley increased their price target on shares of Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday. Evercore ISI cut their price target on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a research report on Tuesday, March 11th. Finally, Wells Fargo & Company raised their target price on shares of Carvana from $290.00 to $310.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Carvana presently has an average rating of "Moderate Buy" and an average price target of $269.18.

Carvana Price Performance

NYSE CVNA traded up $2.28 during trading on Friday, hitting $299.68. 3,656,928 shares of the company's stock were exchanged, compared to its average volume of 3,931,260. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The company has a market cap of $63.88 billion, a PE ratio of 190.88 and a beta of 3.61. Carvana Co. has a fifty-two week low of $97.55 and a fifty-two week high of $311.88. The stock's 50 day moving average price is $218.17 and its two-hundred day moving average price is $229.55.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.76. The company had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business's quarterly revenue was up 38.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.23 earnings per share. Research analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Insider Transactions at Carvana

In other news, Director Michael E. Maroone sold 9,000 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $273.44, for a total transaction of $2,460,960.00. Following the completion of the sale, the director now directly owns 143,504 shares of the company's stock, valued at $39,239,733.76. This trade represents a 5.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas Taira sold 27,593 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total value of $6,209,252.79. Following the sale, the insider now directly owns 179,673 shares of the company's stock, valued at approximately $40,431,815.19. This represents a 13.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 462,967 shares of company stock worth $106,728,267. Insiders own 16.36% of the company's stock.

Carvana Company 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.