Graham Capital Management L.P. Trims Stake in Carvana Co. (NYSE:CVNA)

Graham Capital Management L.P. reduced its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 41.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,516 shares of the company's stock after selling 5,406 shares during the quarter. Graham Capital Management L.P.'s holdings in Carvana were worth $1,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in CVNA. Quent Capital LLC bought a new position in shares of Carvana during the 4th quarter valued at approximately $28,000. Global Retirement Partners LLC boosted its position in shares of Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Rialto Wealth Management LLC bought a new position in shares of Carvana during the 4th quarter valued at approximately $31,000. Venturi Wealth Management LLC boosted its position in shares of Carvana by 79.2% during the 4th quarter. Venturi Wealth Management LLC now owns 224 shares of the company's stock valued at $46,000 after acquiring an additional 99 shares during the last quarter. Finally, Transce3nd LLC bought a new position in shares of Carvana during the 4th quarter valued at approximately $48,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Up 0.8%

CVNA stock traded up $2.28 during trading on Friday, reaching $299.68. 3,656,928 shares of the company traded hands, compared to its average volume of 3,931,260. Carvana Co. has a 12 month low of $97.55 and a 12 month high of $311.88. The business has a 50 day simple moving average of $218.17 and a 200 day simple moving average of $229.55. The company has a market capitalization of $63.88 billion, a price-to-earnings ratio of 190.88 and a beta of 3.61. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64.

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

Analysts Set New Price Targets

A number of research firms have recently commented on CVNA. Wells Fargo & Company increased their target price on Carvana from $290.00 to $310.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. decreased their price target on Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Morgan Stanley increased their price target on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday. Piper Sandler increased their price target on Carvana from $225.00 to $230.00 and gave the company an "overweight" rating in a report on Tuesday, April 22nd. Finally, Robert W. Baird increased their target price on Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $269.18.

Insiders Place Their Bets

In other news, COO Benjamin E. Huston sold 50,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the transaction, the chief operating officer now directly owns 196,278 shares in the company, valued at $35,033,660.22. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 28,422 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the transaction, the chief financial officer now owns 219,962 shares of the company's stock, valued at approximately $63,536,023.70. The trade was a 11.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 462,967 shares of company stock valued at $106,728,267. 16.36% of the stock is currently owned by corporate insiders.

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.