SG Americas Securities LLC Has $26.33 Million Stock Position in Carvana Co. $CVNA

Key Points

• SG Americas Securities cut its Carvana stake by 67% in the first quarter, selling 169,735 shares and ending with 83,752 shares valued at about $26.33 million.
• Several large institutional investors remain heavily invested in Carvana, including Vanguard, State Street, and Price T. Rowe, and 56.71% of the stock is owned by institutions and hedge funds.
• Carvana beat quarterly expectations with EPS of $1.69 versus $0.32 expected and revenue of $6.43 billion, while analysts maintain a Moderate Buy outlook with an average price target of $93.14.

SG Americas Securities LLC reduced its stake in Carvana Co. (NYSE:CVNA - Free Report) by 67.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,752 shares of the company's stock after selling 169,735 shares during the period. SG Americas Securities LLC's holdings in Carvana were worth $26,330,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Carvana by 24.7% during the fourth quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company's stock worth $7,082,804,000 after buying an additional 3,328,115 shares during the last quarter. State Street Corp grew its position in shares of Carvana by 93.7% during the 4th quarter. State Street Corp now owns 5,714,779 shares of the company's stock worth $2,411,751,000 after buying an additional 2,764,759 shares during the period. Capital Research Global Investors increased its stake in shares of Carvana by 42.9% in the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company's stock valued at $2,405,959,000 after acquiring an additional 1,711,144 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Carvana by 8.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company's stock valued at $7,481,081,000 after acquiring an additional 1,407,762 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Carvana by 55.4% in the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company's stock valued at $1,632,763,000 after acquiring an additional 1,382,852 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. UBS Group restated a "buy" rating and set a $104.00 price objective (up from $97.00) on shares of Carvana in a report on Thursday, April 30th. Morgan Stanley increased their target price on shares of Carvana from $90.00 to $102.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $107.40 price target on shares of Carvana in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Carvana in a research note on Thursday, June 18th. Finally, Jefferies Financial Group reduced their target price on Carvana from $97.00 to $95.00 and set a "buy" rating on the stock in a report on Tuesday, April 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $93.14.

Insider Activity

In other Carvana news, insider Thomas Taira sold 18,850 shares of Carvana stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $68.20, for a total value of $1,285,570.00. Following the sale, the insider owned 292,820 shares of the company's stock, valued at $19,970,324. This trade represents a 6.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Benjamin E. Huston sold 50,000 shares of the business's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $61.97, for a total value of $3,098,600.00. Following the completion of the sale, the chief operating officer owned 464,620 shares in the company, valued at approximately $28,793,430.64. This trade represents a 9.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 415,812 shares of company stock worth $29,056,896. 15.19% of the stock is currently owned by insiders.

Carvana Stock Performance

Shares of CVNA opened at $67.80 on Thursday. The firm has a market cap of $74.36 billion, a P/E ratio of 41.24, a PEG ratio of 10.94 and a beta of 3.45. Carvana Co. has a twelve month low of $54.46 and a twelve month high of $97.38. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09. The firm's 50 day moving average price is $71.56 and its two-hundred day moving average price is $74.87.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The company had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.12 billion. On average, analysts forecast that Carvana Co. will post 1.58 EPS for the current fiscal year.

About Carvana

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.