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

Calamos Advisors LLC cut its stake in Carvana Co. (NYSE:CVNA - Free Report) by 20.4% during the first quarter, according to its most recent 13F filing with the Securities and 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Yousif Capital Management LLC increased its stake in shares of Carvana by 4.1% in the 1st quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock valued at $265,000 after purchasing an additional 50 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Carvana by 21.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock valued at $87,000 after acquiring an additional 74 shares in the last quarter. Great Lakes Advisors LLC raised its stake in shares of Carvana by 2.1% in the fourth quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company's stock valued at $752,000 after acquiring an additional 77 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Carvana by 39.4% in the first quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after acquiring an additional 82 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in shares of Carvana by 2.3% in the fourth quarter. Cerity Partners LLC now owns 4,314 shares of the company's stock valued at $845,000 after acquiring an additional 99 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $346.99, for a total transaction 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. This trade represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 51,380 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $326.03, for a total transaction of $16,751,421.40. Following the completion of the sale, the chief financial officer owned 162,079 shares in the company, valued at approximately $52,842,616.37. The trade was 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 1,506,961 shares of company stock valued at $488,853,396. 17.12% of the stock is owned by company insiders.

Carvana Price Performance

NYSE:CVNA traded down $5.10 on Thursday, reaching $345.99. The stock had a trading volume of 2,127,005 shares, compared to its average volume of 3,848,641. Carvana Co. has a 1-year low of $118.50 and a 1-year high of $364.00. The stock has a fifty day moving average price of $312.35 and a 200-day moving average price of $250.78. The company has a market capitalization of $74.09 billion, a P/E ratio of 121.40, a price-to-earnings-growth ratio of 1.35 and a beta of 3.59. The company has a quick ratio of 2.70, a current ratio of 3.81 and a debt-to-equity ratio of 2.97.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on CVNA. Wells Fargo & Company increased their target price on Carvana from $290.00 to $310.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Royal Bank Of Canada raised their price objective on Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Wedbush raised Carvana to a "hold" rating in a report on Thursday, May 8th. Citigroup raised their price objective on Carvana from $325.00 to $415.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Piper Sandler set a $340.00 price objective 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 issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $303.59.

Carvana 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.