Mercer Global Advisors Inc. ADV Cuts Stock Holdings in Carvana Co. (NYSE:CVNA)

Mercer Global Advisors Inc. ADV lessened its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 87.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,326 shares of the company's stock after selling 49,855 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Carvana were worth $1,490,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC raised its holdings in Carvana by 3.4% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company's stock worth $313,000 after purchasing an additional 51 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in Carvana by 2.8% in the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company's stock worth $483,000 after purchasing an additional 65 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Carvana by 21.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock valued at $87,000 after purchasing an additional 74 shares in the last quarter. Great Lakes Advisors LLC lifted its holdings in shares of Carvana by 2.1% during the fourth quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company's stock valued at $752,000 after purchasing an additional 77 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

Carvana Stock Performance

Shares of NYSE CVNA traded down $17.26 during midday trading on Friday, hitting $268.27. 8,144,599 shares of the company's stock traded hands, compared to its average volume of 3,918,428. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The stock has a market capitalization of $57.19 billion, a price-to-earnings ratio of 170.87 and a beta of 3.61. The firm has a fifty day moving average of $209.94 and a 200 day moving average of $227.40. Carvana Co. has a 1 year low of $97.55 and a 1 year high of $293.62.

Carvana (NYSE:CVNA - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company's quarterly revenue was up 38.3% on a year-over-year basis. During the same period last year, the firm earned $0.23 earnings per share. On average, analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CVNA shares. DA Davidson raised their price objective on Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Citigroup lifted their price target on Carvana from $280.00 to $325.00 and gave the stock a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Robert W. Baird lifted their target price on shares of Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, JMP Securities dropped their target price on shares of Carvana from $340.00 to $275.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $268.59.

Insider Buying and Selling at Carvana

In other news, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the sale, the insider now directly owns 153,240 shares of the company's stock, valued at $41,387,059.20. This represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas Taira sold 27,593 shares of Carvana stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the transaction, the insider now owns 179,673 shares in the company, valued at approximately $40,431,815.19. This trade represents a 13.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 348,560 shares of company stock valued at $73,806,520. 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.