Lazard Asset Management LLC Sells 3,068 Shares of Carvana Co. (NYSE:CVNA)

Lazard Asset Management LLC trimmed its position in Carvana Co. (NYSE:CVNA - Free Report) by 94.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185 shares of the company's stock after selling 3,068 shares during the quarter. Lazard Asset Management LLC's holdings in Carvana were worth $37,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Carvana by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company's stock worth $94,148,000 after purchasing an additional 39,089 shares in the last quarter. Plato Investment Management Ltd raised its position in shares of Carvana by 135.5% during the fourth quarter. Plato Investment Management Ltd now owns 5,204 shares of the company's stock worth $1,062,000 after acquiring an additional 2,994 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Carvana by 37.7% during the fourth quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company's stock worth $97,305,000 after acquiring an additional 130,942 shares during the last quarter. Calamos Advisors LLC acquired a new stake in Carvana during the fourth quarter worth approximately $1,106,000. Finally, Raymond James Financial Inc. acquired a new stake in Carvana during the fourth quarter worth approximately $60,866,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on CVNA. Stephens reaffirmed an "overweight" rating and set a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. Royal Bank of Canada raised their target price on Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Citigroup raised their price objective on Carvana from $280.00 to $325.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. reduced their price objective on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Finally, DA Davidson raised their price objective on Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $275.65.

Insider Transactions at Carvana

In other news, COO Benjamin E. Huston sold 26,753 shares of Carvana stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $300.00, for a total transaction of $8,025,900.00. Following the sale, the chief operating officer now directly owns 149,294 shares in the company, valued at $44,788,200. The trade was a 15.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $308.55, for a total value of $3,085,500.00. Following the sale, the chief executive officer now owns 810,000 shares in the company, valued at $249,925,500. The trade was a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 630,313 shares of company stock worth $157,709,272 in the last ninety days. Company insiders own 17.12% of the company's stock.

Carvana Stock Down 0.1%

Shares of NYSE:CVNA traded down $0.46 during mid-day trading on Thursday, hitting $319.85. 2,092,796 shares of the company traded hands, compared to its average volume of 3,947,496. The stock has a market cap of $68.49 billion, a P/E ratio of 203.72 and a beta of 3.61. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. Carvana Co. has a 12-month low of $97.55 and a 12-month high of $330.00. The stock has a 50-day moving average price of $240.94 and a two-hundred day moving average price of $234.13.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. During the same quarter in the previous year, the firm earned $0.23 earnings per share. Carvana's quarterly revenue was up 38.3% on a year-over-year basis. On average, equities research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

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.