Korea Investment CORP Has $28.71 Million Stock Holdings in Carvana Co. $CVNA

Key Points

• Korea Investment CORP cut its Carvana stake by 22.2% in Q3, selling 21,740 shares and now holds 76,093 shares valued at about $28.71 million.
• Insiders have been net sellers recently — directors and executives sold shares and insiders disposed of 132,621 shares worth roughly $59.16 million in the last 90 days, while insiders still own 16.36% of the stock.
• Carvana posted a strong quarter, beating EPS ($4.22 vs. $1.10) and revenue ($5.60B vs. $5.24B); analysts maintain a consensus "Moderate Buy" with an average price target of $440.59.

Korea Investment CORP reduced its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 22.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 76,093 shares of the company's stock after selling 21,740 shares during the period. Korea Investment CORP's holdings in Carvana were worth $28,705,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CVNA. ORG Partners LLC raised its position in Carvana by 8,700.0% in the third quarter. ORG Partners LLC now owns 88 shares of the company's stock worth $33,000 after purchasing an additional 87 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in Carvana during the third quarter valued at approximately $38,000. Washington Trust Advisors Inc. bought a new stake in shares of Carvana in the 3rd quarter valued at approximately $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Carvana in the 2nd quarter valued at approximately $38,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Carvana in the 2nd quarter worth approximately $49,000. Institutional investors own 56.71% of the company's stock.

Insider Buying and Selling

In other Carvana news, Director J Danforth Quayle sold 2,900 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $309.97, for a total transaction of $898,913.00. Following the sale, the director owned 41,913 shares of the company's stock, valued at $12,991,772.61. This represents a 6.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Stephen R. Palmer sold 1,000 shares of the firm's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $393.04, for a total transaction of $393,040.00. Following the completion of the sale, the vice president owned 37,192 shares of the company's stock, valued at $14,617,943.68. The trade was a 2.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 132,621 shares of company stock valued at $59,163,610 in the last 90 days. 16.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. JPMorgan Chase & Co. cut their target price on Carvana from $510.00 to $490.00 and set an "overweight" rating for the company in a research report on Thursday, February 19th. Barclays dropped their price objective on Carvana from $530.00 to $450.00 and set an "overweight" rating for the company in a research note on Friday, February 20th. Weiss Ratings raised Carvana from a "hold (c)" rating to a "buy (b-)" rating in a report on Thursday, February 19th. UBS Group set a $485.00 target price on shares of Carvana in a research note on Friday, February 20th. Finally, Gordon Haskett lowered their target price on shares of Carvana from $435.00 to $350.00 and set a "hold" rating on the stock in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $440.59.

Carvana Stock Up 3.5%

NYSE CVNA opened at $328.74 on Tuesday. The stock's 50 day simple moving average is $397.33 and its 200 day simple moving average is $380.49. Carvana Co. has a one year low of $148.25 and a one year high of $486.89. The firm has a market cap of $71.94 billion, a PE ratio of 40.89 and a beta of 3.60. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.31 and a quick ratio of 2.73.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $4.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $3.12. The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.24 billion. Carvana had a return on equity of 50.96% and a net margin of 6.92%.The business's revenue for the quarter was up 58.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS. As a group, sell-side analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Carvana Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana's model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.

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