Calamos Advisors LLC Lowers Stock Holdings in Carvana Co. (NYSE:CVNA)

Calamos Advisors LLC lowered its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 20.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,328 shares of the company's stock after selling 1,111 shares during the quarter. Calamos Advisors LLC's holdings in Carvana were worth $905,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CVNA. Rialto Wealth Management LLC purchased a new position in Carvana during the 4th quarter valued at $31,000. Transce3nd LLC purchased a new position in Carvana during the 4th quarter valued at $48,000. Versant Capital Management Inc boosted its holdings in Carvana by 39.4% during the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after acquiring an additional 82 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Carvana during the 4th quarter valued at $75,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Carvana by 21.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock valued at $87,000 after acquiring an additional 74 shares during the period. Hedge funds and other institutional investors own 56.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CVNA. Royal Bank Of Canada boosted their price objective on Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. lowered their target price on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Wedbush upgraded Carvana to a "hold" rating in a report on Thursday, May 8th. Wall Street Zen upgraded Carvana from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Piper Sandler set a $340.00 target price on Carvana and gave the stock an "overweight" rating in a report on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $303.59.

Insider Activity

In other news, insider Daniel J. Gill sold 70,166 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $281.43, for a total value of $19,746,817.38. Following the transaction, the insider directly owned 201,087 shares of the company's stock, valued at approximately $56,591,914.41. This represents a 25.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 51,380 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $326.03, for a total value of $16,751,421.40. Following the completion of the transaction, the chief financial officer directly owned 162,079 shares in the company, valued at $52,842,616.37. This represents a 24.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,406,961 shares of company stock valued at $453,477,396. Company insiders own 16.36% of the company's stock.

Carvana Stock Up 0.9%

Shares of CVNA traded up $3.22 during trading hours on Wednesday, hitting $349.14. The company had a trading volume of 758,582 shares, compared to its average volume of 3,846,909. The company has a market capitalization of $74.77 billion, a PE ratio of 122.57, a price-to-earnings-growth ratio of 1.39 and a beta of 3.59. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97. Carvana Co. has a one year low of $118.50 and a one year high of $364.00. The company's fifty day moving average price is $310.23 and its two-hundred day moving average price is $250.09.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The company had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. During the same period last year, the business posted $0.23 earnings per share. The firm's revenue was up 38.3% compared to the same quarter last year. As a group, equities analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

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.