MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 3,441 Shares of Carvana Co. $CVNA

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in Carvana Co. by 12.3%, selling 3,441 shares and retaining 24,486 shares valued at approximately $5.12 million.
• Notable institutional investors like Price T Rowe Associates and Vanguard Group increased their stakes in Carvana, with Price T Rowe boosting their position by 13.9% in the first quarter.
• Wall Street analysts have revised their target prices upward, with estimates ranging from $370 to $460, indicating a generally optimistic outlook for Carvana's stock performance.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 12.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,486 shares of the company's stock after selling 3,441 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Carvana were worth $5,120,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CVNA. Price T Rowe Associates Inc. MD boosted its stake in shares of Carvana by 13.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock valued at $3,125,749,000 after purchasing an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Carvana by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock valued at $2,620,785,000 after purchasing an additional 1,109,476 shares in the last quarter. Whale Rock Capital Management LLC boosted its stake in shares of Carvana by 29.8% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company's stock valued at $247,017,000 after purchasing an additional 278,760 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Carvana by 1.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 692,725 shares of the company's stock valued at $144,835,000 after purchasing an additional 9,694 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Carvana by 5.4% in the 1st quarter. Northern Trust Corp now owns 685,864 shares of the company's stock valued at $143,400,000 after purchasing an additional 35,168 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Evercore ISI boosted their target price on shares of Carvana from $365.00 to $370.00 and gave the company an "in-line" rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. boosted their target price on shares of Carvana from $350.00 to $415.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Stephens boosted their target price on shares of Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Wells Fargo & Company boosted their target price on shares of Carvana from $390.00 to $425.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, JMP Securities upped 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. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $383.47.

Carvana Stock Down 2.8%

Shares of NYSE CVNA opened at $354.89 on Friday. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. Carvana Co. has a 12-month low of $133.57 and a 12-month high of $413.33. The company has a market cap of $76.37 billion, a price-to-earnings ratio of 88.95, a price-to-earnings-growth ratio of 1.21 and a beta of 3.51. The firm's 50-day simple moving average is $353.80 and its 200 day simple moving average is $289.02.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) 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 in the prior year, the company posted ($0.05) EPS. The company's revenue was up 41.9% compared to the same quarter last year. On average, research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 93,376 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $394.16, for a total transaction of $36,805,084.16. Following the transaction, the insider directly owned 6,624 shares in the company, valued at approximately $2,610,915.84. This represents a 93.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $353.76, for a total transaction of $35,376,000.00. Following the transaction, the insider owned 36,437,346 shares in the company, valued at approximately $12,890,075,520.96. The trade was a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,423,157 shares of company stock worth $856,602,667. Corporate insiders own 17.12% of the company's stock.

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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