Carvana Co. (NYSE:CVNA) Holdings Reduced by Lazard Asset Management LLC

Lazard Asset Management LLC lowered its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 94.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CVNA. LMR Partners LLP increased its position in Carvana by 971.4% during the 4th quarter. LMR Partners LLP now owns 22,500 shares of the company's stock worth $4,576,000 after purchasing an additional 20,400 shares in the last quarter. J. Goldman & Co LP increased its position in Carvana by 457.8% during the 4th quarter. J. Goldman & Co LP now owns 10,654 shares of the company's stock worth $2,167,000 after purchasing an additional 8,744 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Carvana by 129.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 10,590 shares of the company's stock worth $2,154,000 after purchasing an additional 5,980 shares in the last quarter. Flight Deck Capital LP acquired a new stake in Carvana in the fourth quarter valued at approximately $6,345,000. Finally, Eisler Capital Management Ltd. acquired a new stake in Carvana in the fourth quarter valued at approximately $3,165,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Analyst Ratings Changes

CVNA has been the subject of several recent research reports. Stephens reaffirmed an "overweight" rating and issued a $300.00 price objective on shares of Carvana in a research report on Monday, March 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $340.00 price objective on shares of Carvana in a research report on Thursday, May 8th. Wedbush raised shares of Carvana to a "hold" rating in a research report on Thursday, May 8th. Finally, Piper Sandler set a $340.00 price objective on shares of Carvana and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $275.65.

Insider Buying and Selling

In related news, insider Daniel J. Gill sold 70,166 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $281.43, for a total transaction of $19,746,817.38. Following the sale, the insider now owns 201,087 shares in the company, valued at $56,591,914.41. This represents a 25.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ernest C. Garcia III sold 10,000 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $303.97, for a total transaction of $3,039,700.00. Following the sale, the chief executive officer now owns 845,000 shares in the company, valued at approximately $256,854,650. This trade represents a 1.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 702,813 shares of company stock worth $180,971,479 over the last quarter. 17.12% of the stock is owned by company insiders.

Carvana Stock Performance

CVNA traded up $7.26 during trading hours on Friday, hitting $326.91. 4,458,631 shares of the stock were exchanged, compared to its average volume of 3,958,313. The stock has a market cap of $70.01 billion, a price-to-earnings ratio of 208.22 and a beta of 3.61. The stock has a 50-day simple moving average of $245.17 and a 200-day simple moving average of $235.13. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. Carvana Co. has a 12 month low of $97.55 and a 12 month high of $327.75.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. During the same period in the prior year, the company earned $0.23 earnings per share. The firm's revenue was up 38.3% compared to the same quarter last year. Analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current 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.