Carvana Co. (NYSE:CVNA) Shares Sold by Caitong International Asset Management Co. Ltd

Key Points

• Caitong International Asset Management Co. Ltd reduced its stake in Carvana Co. by 83.9%, totaling $187,000 after selling 4,681 shares.
• Carvana reported an earnings per share (EPS) of $1.28 for the quarter, exceeding analysts' estimates by $0.19, alongside a revenue increase of 41.9% year-over-year.
• Major shareholder Ernest C. Garcia II sold a total of 193,376 shares of Carvana, significantly reducing his ownership in the company.

Caitong International Asset Management Co. Ltd reduced its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 83.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 896 shares of the company's stock after selling 4,681 shares during the period. Caitong International Asset Management Co. Ltd's holdings in Carvana were worth $187,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVNA. Vanguard Group Inc. increased its position in shares of Carvana by 9.7% during the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock valued at $2,620,785,000 after acquiring an additional 1,109,476 shares during the last quarter. Castle Hook Partners LP acquired a new stake in shares of Carvana during the fourth quarter valued at about $116,020,000. BNP Paribas Financial Markets increased its position in shares of Carvana by 89.8% during the fourth quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock valued at $207,086,000 after acquiring an additional 481,912 shares during the last quarter. Whale Rock Capital Management LLC increased its position in shares of Carvana by 29.8% during the fourth quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company's stock valued at $247,017,000 after acquiring an additional 278,760 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Carvana during the fourth quarter valued at about $51,091,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Performance

CVNA traded up $7.41 during trading on Friday, hitting $350.00. The stock had a trading volume of 3,650,161 shares, compared to its average volume of 3,192,514. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The firm has a market capitalization of $75.32 billion, a P/E ratio of 87.72, a PEG ratio of 1.16 and a beta of 3.57. The company's 50-day moving average price is $337.99 and its 200 day moving average price is $275.67. Carvana Co. has a twelve month low of $124.39 and a twelve month high of $413.33.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.19. The company had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. Carvana's revenue was up 41.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) EPS. On average, equities research analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Transactions at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $346.99, for a total value of $34,699,000.00. Following the transaction, the insider directly owned 37,092,317 shares of the company's stock, valued at approximately $12,870,663,075.83. The trade was a 0.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 3,036,140 shares of company stock valued at $1,056,235,871. Insiders own 17.12% of the company's stock.

Analyst Ratings Changes

CVNA has been the subject of a number of recent analyst reports. Wedbush upgraded shares of Carvana to a "hold" rating in a research report on Thursday, May 8th. Morgan Stanley lifted their price objective on shares of Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Piper Sandler lifted their price objective on shares of Carvana from $340.00 to $440.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Wall Street Zen cut shares of Carvana from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Citigroup restated an "outperform" rating on shares of Carvana in a report on Thursday, July 31st. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Carvana has an average rating of "Moderate Buy" and a consensus price target of $383.47.

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.