Carvana Co. (NYSE:CVNA) Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC reduced its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 50.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,485 shares of the company's stock after selling 8,652 shares during the quarter. Convergence Investment Partners LLC's holdings in Carvana were worth $1,774,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Transce3nd LLC bought a new position in Carvana during the fourth quarter worth $48,000. Versant Capital Management Inc boosted its stake in shares of Carvana by 39.4% in the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after purchasing an additional 82 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Carvana in the 4th quarter valued at $75,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Carvana in the 4th quarter valued at $98,000. Finally, Shell Asset Management Co. acquired a new stake in shares of Carvana in the 4th quarter valued at $116,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Carvana

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $346.99, for a total value of $34,699,000.00. Following the sale, the insider directly owned 37,092,317 shares in the company, valued at approximately $12,870,663,075.83. The trade was a 0.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 51,380 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $326.03, for a total value of $16,751,421.40. Following the transaction, the chief financial officer owned 162,079 shares in the company, valued at approximately $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. In the last quarter, insiders sold 2,171,515 shares of company stock worth $719,730,548. Insiders own 17.12% of the company's stock.

Carvana Price Performance

Shares of NYSE CVNA traded up $5.58 during mid-day trading on Friday, reaching $331.67. The company's stock had a trading volume of 2,065,059 shares, compared to its average volume of 2,795,500. The firm has a market capitalization of $71.02 billion, a PE ratio of 116.38, a P/E/G ratio of 1.26 and a beta of 3.59. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70. The stock has a fifty day moving average of $328.40 and a two-hundred day moving average of $261.99. Carvana Co. has a 52 week low of $118.50 and a 52 week high of $364.00.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CVNA. Robert W. Baird upped their price target on shares of Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Royal Bank Of Canada upped their price target on shares of Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Morgan Stanley upped their price target on shares of Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Needham & Company LLC restated a "buy" rating and set a $340.00 target price on shares of Carvana in a research report on Thursday, May 8th. Finally, William Blair restated an "outperform" rating on shares of Carvana in a research report on Wednesday. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Carvana has a consensus rating of "Moderate Buy" and a consensus target price of $318.16.

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.