World Investment Advisors Sells 11,115 Shares of Carvana Co. (NYSE:CVNA)

World Investment Advisors trimmed its stake in Carvana Co. (NYSE:CVNA - Free Report) by 88.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,470 shares of the company's stock after selling 11,115 shares during the quarter. World Investment Advisors' holdings in Carvana were worth $307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. raised its position in Carvana by 51.0% during the fourth quarter. Victory Capital Management Inc. now owns 37,845 shares of the company's stock valued at $7,696,000 after acquiring an additional 12,774 shares in the last quarter. Atria Investments Inc bought a new position in Carvana during the fourth quarter valued at approximately $240,000. Proficio Capital Partners LLC bought a new position in Carvana during the fourth quarter valued at approximately $23,655,000. Amundi raised its position in Carvana by 154.5% during the fourth quarter. Amundi now owns 234,786 shares of the company's stock valued at $46,253,000 after acquiring an additional 142,537 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Carvana by 19.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,879 shares of the company's stock valued at $4,653,000 after acquiring an additional 3,739 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Performance

CVNA traded down $2.22 during trading on Friday, reaching $343.33. 1,873,600 shares of the company's stock were exchanged, compared to its average volume of 3,815,864. Carvana Co. has a fifty-two week low of $118.50 and a fifty-two week high of $364.00. The company has a quick ratio of 2.70, a current ratio of 3.81 and a debt-to-equity ratio of 2.97. The business has a 50 day moving average price of $315.96 and a 200 day moving average price of $252.66. The company has a market capitalization of $73.52 billion, a P/E ratio of 120.47, a PEG ratio of 1.34 and a beta of 3.59.

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. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the previous year, the company earned $0.23 earnings per share. The business's revenue was up 38.3% compared to the same quarter last year. As a group, analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

CVNA has been the topic of a number of recent analyst reports. Evercore ISI lifted their price target on shares of Carvana from $295.00 to $305.00 and gave the company an "in-line" rating in a research report on Tuesday, June 24th. Wedbush raised shares of Carvana to a "hold" rating in a research report on Thursday, May 8th. Citigroup lifted their price target on shares of Carvana from $325.00 to $415.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Morgan Stanley lifted their price target on shares of Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Finally, Wells Fargo & Company lifted their price target on shares of Carvana from $290.00 to $310.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Carvana presently has a consensus rating of "Moderate Buy" and a consensus target price of $303.59.

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.