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

Contour Asset Management LLC lessened its stake in Carvana Co. (NYSE:CVNA - Free Report) by 45.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 375,120 shares of the company's stock after selling 317,240 shares during the quarter. Carvana accounts for 2.2% of Contour Asset Management LLC's investment portfolio, making the stock its 20th largest position. Contour Asset Management LLC owned approximately 0.18% of Carvana worth $76,284,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CVNA. Wilmington Savings Fund Society FSB acquired a new stake in shares of Carvana during the 3rd quarter valued at approximately $241,000. Versant Capital Management Inc purchased a new position in Carvana in the 4th quarter valued at approximately $42,000. GAMMA Investing LLC raised its holdings in Carvana by 28.9% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company's stock worth $159,000 after purchasing an additional 176 shares during the last quarter. Nordea Investment Management AB purchased a new stake in Carvana during the fourth quarter worth $1,743,000. Finally, Diversified Trust Co grew its holdings in Carvana by 123.4% in the fourth quarter. Diversified Trust Co now owns 4,848 shares of the company's stock valued at $986,000 after purchasing an additional 2,678 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

Wall Street Analyst Weigh In

CVNA has been the topic of several recent research reports. Royal Bank of Canada boosted their price objective on shares of Carvana from $280.00 to $320.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a "buy" rating and issued a $340.00 price target on shares of Carvana in a report on Friday, March 7th. Bank of America dropped their price objective on shares of Carvana from $270.00 to $220.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Citigroup reduced their target price on Carvana from $320.00 to $280.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, DA Davidson raised their price target on Carvana from $220.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $254.76.

Carvana Stock Performance

Shares of CVNA stock opened at $259.19 on Wednesday. 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 $55.25 billion, a PE ratio of 165.09 and a beta of 3.61. The company's fifty day simple moving average is $207.06 and its 200-day simple moving average is $225.64. Carvana Co. has a 52 week low of $97.55 and a 52 week high of $292.84.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. As a group, equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Insider Buying and Selling

In related news, CFO Mark W. Jenkins sold 43,433 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $209.27, for a total value of $9,089,223.91. Following the transaction, the chief financial officer now owns 214,678 shares in the company, valued at approximately $44,925,665.06. The trade was a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Benjamin E. Huston sold 10,000 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $253.56, for a total value of $2,535,600.00. Following the completion of the transaction, the chief operating officer now directly owns 139,294 shares of the company's stock, valued at $35,319,386.64. This represents a 6.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 348,560 shares of company stock valued at $73,806,520. Corporate insiders own 17.12% 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.

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