Diversified Trust Co Cuts Position in Carvana Co. $CVNA

Key Points

• Diversified Trust Co reduced its stake in Carvana Co. by 34.9%, selling 1,682 shares and retaining 3,132 shares worth approximately $1,055,000.
• A significant number of institutional investors, including Brooklyn Investment Group and Geneos Wealth Management, have increased their holdings in Carvana, reflecting a growing interest among large players.
• Analysts have raised their price targets for Carvana, with estimates now ranging from $370 to $500, indicating a generally positive outlook on the stock's performance.

Diversified Trust Co reduced its stake in Carvana Co. (NYSE:CVNA - Free Report) by 34.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,132 shares of the company's stock after selling 1,682 shares during the period. Diversified Trust Co's holdings in Carvana were worth $1,055,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group increased its holdings in Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after acquiring an additional 125 shares during the period. N.E.W. Advisory Services LLC bought a new position in shares of Carvana in the 1st quarter worth about $33,000. Geneos Wealth Management Inc. increased its stake in Carvana by 251.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock valued at $53,000 after purchasing an additional 181 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of 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 during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Carvana during the first quarter valued at approximately $90,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $375.00, for a total transaction of $5,625,000.00. Following the completion of the sale, the insider owned 83,018 shares of the company's stock, valued at approximately $31,131,750. This trade represents a 15.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ira J. Platt sold 14,000 shares of Carvana stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $379.14, for a total value of $5,307,960.00. Following the sale, the director directly owned 7,231 shares of the company's stock, valued at approximately $2,741,561.34. This trade represents a 65.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,416,037 shares of company stock valued at $857,141,304 over the last ninety days. 16.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CVNA has been the subject of a number of research reports. 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 objective for the company. Citigroup restated an "outperform" rating on shares of Carvana in a research note on Thursday, July 31st. Wells Fargo & Company upped their target price on Carvana from $390.00 to $425.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Evercore ISI lifted their price objective on Carvana from $365.00 to $370.00 and gave the stock an "in-line" rating in a report on Tuesday, August 12th. Finally, Bank of America boosted their target price on Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $384.06.

Carvana Stock Down 0.2%

Shares of NYSE CVNA traded down $0.79 during mid-day trading on Monday, reaching $391.10. 1,701,639 shares of the company's stock were exchanged, compared to its average volume of 2,358,169. The business has a fifty day simple moving average of $357.62 and a 200 day simple moving average of $297.91. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $413.33. The firm has a market capitalization of $84.16 billion, a price-to-earnings ratio of 98.02, a PEG ratio of 1.28 and a beta of 3.51. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51.

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

Carvana 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.