Two Sigma Advisers LP Cuts Stock Position in Carvana Co. (NYSE:CVNA)

Two Sigma Advisers LP cut its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 14.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,677,035 shares of the company's stock after selling 273,000 shares during the quarter. Two Sigma Advisers LP owned approximately 0.81% of Carvana worth $341,042,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock valued at $2,323,463,000 after purchasing an additional 610,234 shares during the last quarter. Lingotto Investment Management LLP grew its position in Carvana by 1.5% during the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock valued at $810,827,000 after purchasing an additional 57,215 shares during the last quarter. Durable Capital Partners LP grew its position in Carvana by 6.3% during the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock valued at $440,932,000 after purchasing an additional 129,246 shares during the last quarter. Geode Capital Management LLC grew its position in Carvana by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock valued at $381,592,000 after purchasing an additional 75,250 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Carvana by 89.8% during the 4th quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock valued at $207,086,000 after purchasing an additional 481,912 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Performance

Shares of NYSE:CVNA traded down $9.96 during mid-day trading on Wednesday, reaching $292.33. 4,015,086 shares of the company traded hands, compared to its average volume of 3,949,809. The company's 50 day moving average price is $228.16 and its 200-day moving average price is $231.66. The firm has a market cap of $62.60 billion, a PE ratio of 186.20 and a beta of 3.61. Carvana Co. has a 52 week low of $97.55 and a 52 week high of $311.88. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company's revenue was up 38.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 earnings per share. On average, equities analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CVNA shares. Morgan Stanley raised their price target on shares of Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Citigroup raised their target price on shares of Carvana from $280.00 to $325.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. DA Davidson boosted their target price on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. William Blair reissued an "outperform" rating on shares of Carvana in a report on Thursday, February 20th. Finally, Stephens reaffirmed an "overweight" rating and issued a $300.00 price objective on shares of Carvana in a report on Monday, March 3rd. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $269.18.

Insider Buying and Selling

In other Carvana news, CEO Ernest C. Garcia III sold 10,000 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $303.97, for a total value of $3,039,700.00. Following the sale, the chief executive officer now owns 845,000 shares in the company, valued at $256,854,650. The trade was a 1.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $150.90, for a total value of $7,545,000.00. Following the transaction, the chief operating officer now owns 123,803 shares of the company's stock, valued at approximately $18,681,872.70. The trade was a 28.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 610,313 shares of company stock valued at $151,621,372. Company insiders own 17.12% of the company's stock.

Carvana 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.