Quantbot Technologies LP Sells 58,939 Shares of Carvana Co. $CVNA

Key Points

• Quantbot Technologies LP reduced its stake in Carvana by 63.9%, owning 33,265 shares valued at approximately $6.96 million after selling 58,939 shares in Q1.
• Wellington Management Group LLP significantly increased its holdings in Carvana by 470.8%, now owning 206,702 shares worth $43.22 million.
• Wall Street analysts have mixed views on Carvana, with 12 out of 19 analysts issuing a "buy" rating, while the stock currently holds a consensus rating of "Moderate Buy" with an average price target of $383.47.

Quantbot Technologies LP decreased its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 63.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,265 shares of the company's stock after selling 58,939 shares during the period. Quantbot Technologies LP's holdings in Carvana were worth $6,955,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Yousif Capital Management LLC lifted its stake in Carvana by 4.1% in the first quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock worth $265,000 after acquiring an additional 50 shares during the period. Commerce Bank boosted its stake in shares of Carvana by 1.6% during the 1st quarter. Commerce Bank now owns 4,446 shares of the company's stock valued at $930,000 after purchasing an additional 69 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Carvana by 3.3% during the first quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company's stock valued at $466,000 after buying an additional 72 shares during the period. Versant Capital Management Inc raised its stake in Carvana by 39.4% in the first quarter. Versant Capital Management Inc now owns 290 shares of the company's stock worth $61,000 after buying an additional 82 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in Carvana by 16.0% in the first quarter. IFP Advisors Inc now owns 638 shares of the company's stock worth $133,000 after buying an additional 88 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Price Performance

CVNA traded up $18.1040 during trading on Friday, hitting $357.1740. 3,475,072 shares of the company traded hands, compared to its average volume of 3,298,145. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. The company has a market cap of $76.86 billion, a PE ratio of 89.52, a P/E/G ratio of 1.12 and a beta of 3.57. The stock's 50-day simple moving average is $340.09 and its two-hundred day simple moving average is $278.86. Carvana Co. has a 1 year low of $124.39 and a 1 year high of $413.33.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the firm earned ($0.05) EPS. The business's revenue was up 41.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVNA. Oppenheimer upgraded Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price objective for the company in a report on Friday, July 25th. Gordon Haskett started coverage on shares of Carvana in a research note on Monday, July 14th. They issued a "hold" rating and a $329.00 price target for the company. Morgan Stanley boosted their price objective on shares of Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. JMP Securities raised their target price on shares of Carvana from $440.00 to $460.00 and gave the company a "market outperform" rating in a research note on Thursday, July 31st. Finally, Wells Fargo & Company upped their price target on Carvana from $390.00 to $425.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $383.47.

Insider Transactions at Carvana

In other news, major shareholder Ernest C. Garcia II sold 95,087 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $349.09, for a total transaction of $33,193,920.83. Following the transaction, the insider directly owned 34,442,317 shares in the company, valued at approximately $12,023,468,441.53. This trade represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $338.27, for a total transaction of $3,382,700.00. Following the transaction, the chief executive officer directly owned 516,440 shares in the company, valued at approximately $174,696,158.80. The trade was a 1.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,056,140 shares of company stock valued at $1,063,857,548 in the last quarter. 17.12% of the stock is currently owned by company insiders.

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.