Russell Investments Group Ltd. Sells 24,909 Shares of Carvana Co. $CVNA

Key Points

• Russell Investments Group Ltd. reduced its stake in Carvana by 20.1%, selling 24,909 shares and finishing the quarter with 99,036 shares worth about $37.57 million.
• Carvana reported a strong quarter, beating estimates with $4.22 EPS (vs. $1.10 est.) and $5.60 billion revenue (vs. $5.24B est.), with revenue up 58% year‑over‑year and a 6.92% net margin.
• Insiders have been net sellers—125,101 shares worth roughly $55.45 million over the last three months—while analysts still show a "Moderate Buy" consensus and an average price target near $440.59.

Russell Investments Group Ltd. decreased its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 20.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,036 shares of the company's stock after selling 24,909 shares during the quarter. Russell Investments Group Ltd.'s holdings in Carvana were worth $37,568,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Partners LLC lifted its holdings in Carvana by 8,700.0% in the third quarter. ORG Partners LLC now owns 88 shares of the company's stock valued at $33,000 after acquiring an additional 87 shares during the period. Washington Trust Advisors Inc. bought a new position in Carvana in the 3rd quarter worth $38,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of Carvana in the third quarter worth about $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Carvana in the 2nd quarter worth approximately $38,000. Finally, SJS Investment Consulting Inc. boosted its stake in Carvana by 28.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 136 shares of the company's stock worth $51,000 after purchasing an additional 30 shares during the period. 56.71% of the stock is owned by institutional investors.

Carvana Trading Down 2.9%

NYSE:CVNA opened at $309.49 on Thursday. The stock has a market capitalization of $67.73 billion, a price-to-earnings ratio of 38.49 and a beta of 3.60. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $486.89. The company has a quick ratio of 2.73, a current ratio of 4.31 and a debt-to-equity ratio of 1.15. The firm has a 50 day moving average of $392.86 and a 200 day moving average of $379.72.

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

Insider Transactions at Carvana

In related news, insider Thomas Taira sold 953 shares of the business's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $325.00, for a total transaction of $309,725.00. Following the transaction, the insider directly owned 64,997 shares in the company, valued at $21,124,025. The trade was a 1.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director J Danforth Quayle sold 2,900 shares of the company's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $309.97, for a total value of $898,913.00. Following the transaction, the director directly owned 41,913 shares in the company, valued at $12,991,772.61. This represents a 6.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 125,101 shares of company stock worth $55,448,660. 17.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on CVNA. Weiss Ratings raised shares of Carvana from a "hold (c)" rating to a "buy (b-)" rating in a research note on Thursday, February 19th. Citigroup cut their target price on Carvana from $550.00 to $465.00 and set a "buy" rating on the stock in a research report on Thursday, February 19th. Bank of America reduced their price objective on shares of Carvana from $460.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 19th. Gordon Haskett reduced their target price on Carvana from $435.00 to $350.00 and set a "hold" rating on the stock in a research note on Friday, February 20th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Carvana from $510.00 to $490.00 and set an "overweight" rating for the company in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $440.59.

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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