Nisa Investment Advisors LLC Trims Stock Holdings in Carvana Co. (NYSE:CVNA)

Nisa Investment Advisors LLC lowered its position in Carvana Co. (NYSE:CVNA - Free Report) by 36.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,704 shares of the company's stock after selling 10,113 shares during the quarter. Nisa Investment Advisors LLC's holdings in Carvana were worth $3,702,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVNA. Transce3nd LLC purchased a new stake in shares of Carvana during the fourth quarter worth approximately $48,000. Versant Capital Management Inc raised its stake in shares of 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 purchasing an additional 82 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Carvana during the fourth quarter worth approximately $75,000. EverSource Wealth Advisors LLC raised its stake in shares of Carvana by 21.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock worth $87,000 after purchasing an additional 74 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Carvana during the fourth quarter worth approximately $98,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Carvana Stock Down 0.6%

Carvana stock opened at $343.33 on Friday. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. The firm has a market capitalization of $73.52 billion, a price-to-earnings ratio of 120.47, a price-to-earnings-growth ratio of 1.34 and a beta of 3.59. Carvana Co. has a fifty-two week low of $118.50 and a fifty-two week high of $364.00. The stock's fifty day moving average is $315.96 and its two-hundred day moving average is $252.66.

Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.76. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.94 billion. Carvana had a return on equity of 44.86% and a net margin of 2.68%. Carvana's revenue was up 38.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 earnings per share. Analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CVNA shares. Piper Sandler set a $340.00 price target on Carvana and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. cut their price target on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Needham & Company LLC restated a "buy" rating and set a $340.00 price target on shares of Carvana in a research note on Thursday, May 8th. Stephens upped their price objective on Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Finally, Bank of America upped their price objective on Carvana from $325.00 to $375.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Six equities research 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $303.59.

Insider Buying and Selling at Carvana

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $352.36, for a total transaction of $35,236,000.00. Following the sale, the insider owned 36,237,346 shares of the company's stock, valued at $12,768,591,236.56. This trade represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ernest C. Garcia III sold 10,000 shares of the stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $348.68, for a total value of $3,486,800.00. Following the sale, the chief executive officer directly owned 671,440 shares in the company, valued at approximately $234,117,699.20. The trade was a 1.47% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,626,961 shares of company stock valued at $531,064,642. Insiders own 17.12% of the company's stock.

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.

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