Deutsche Bank AG Sells 22,141 Shares of Carvana Co. (NYSE:CVNA)

Key Points

• Deutsche Bank AG reduced its stake in Carvana Co. by 7.7%, selling 22,141 shares and now holds about 0.12% of the company, valued at $55.7 million.
• Several large investors, including N.E.W. Advisory Services and Versant Capital Management, adjusted their positions in Carvana, with 56.71% of the stock owned by institutional investors.
• Analysts have a positive outlook on Carvana, with thirteen analysts rating it a buy and an average target price of $379.65, indicating strong market confidence in the company's potential.

Deutsche Bank AG cut its stake in Carvana Co. (NYSE:CVNA - Free Report) by 7.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 266,202 shares of the company's stock after selling 22,141 shares during the quarter. Deutsche Bank AG owned approximately 0.12% of Carvana worth $55,658,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CVNA. N.E.W. Advisory Services LLC bought a new position in shares of Carvana in the first quarter valued at about $33,000. Transce3nd LLC bought a new position in Carvana during the fourth quarter worth about $48,000. Versant Capital Management Inc increased its position in Carvana by 39.4% during the first quarter. Versant Capital Management Inc now owns 290 shares of the company's stock worth $61,000 after acquiring an additional 82 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Carvana during the first quarter worth about $90,000. Finally, Gordian Capital Singapore Pte Ltd bought a new position in Carvana during the fourth quarter worth about $98,000. 56.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wall Street Zen raised shares of Carvana from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Wells Fargo & Company raised their price target on shares of Carvana from $390.00 to $425.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Royal Bank Of Canada raised their price target on shares of Carvana from $400.00 to $460.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Oppenheimer raised shares of Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price target on the stock in a research report on Friday, July 25th. Finally, JMP Securities raised their price target on shares of Carvana from $440.00 to $460.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Carvana has an average rating of "Moderate Buy" and an average target price of $379.65.

Insider Activity at Carvana

In related news, CEO Ernest C. Garcia III sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $346.61, for a total value of $3,466,100.00. Following the completion of the transaction, the chief executive officer owned 561,440 shares in the company, valued at $194,600,718.40. This trade represents a 1.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul W. Breaux sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $367.34, for a total transaction of $5,510,100.00. Following the completion of the transaction, the insider owned 113,792 shares of the company's stock, valued at approximately $41,800,353.28. This trade represents a 11.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,893,047 shares of company stock valued at $998,571,020. 16.36% of the stock is currently owned by company insiders.

Carvana Trading Down 0.7%

CVNA opened at $345.06 on Tuesday. The company's 50 day moving average is $337.63 and its 200-day moving average is $273.00. Carvana Co. has a 1-year low of $124.39 and a 1-year high of $413.33. 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 $74.26 billion, a P/E ratio of 86.48, a PEG ratio of 1.15 and a beta of 3.57.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period last year, the company posted ($0.05) EPS. The firm's quarterly revenue was up 41.9% compared to the same quarter last year. Equities research analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal 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.

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