Thrive Capital Management LLC Sells 680,610 Shares of Carvana Co. (NYSE:CVNA)

Thrive Capital Management LLC lowered its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 23.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,267,610 shares of the company's stock after selling 680,610 shares during the quarter. Carvana accounts for 50.9% of Thrive Capital Management LLC's portfolio, making the stock its 2nd biggest holding. Thrive Capital Management LLC owned about 1.14% of Carvana worth $95,194,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its holdings in shares of Carvana by 17.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,929 shares of the company's stock worth $230,000 after buying an additional 280 shares during the period. Diversified Trust Co lifted its holdings in shares of Carvana by 6.0% in the 4th quarter. Diversified Trust Co now owns 5,659 shares of the company's stock worth $300,000 after buying an additional 319 shares during the period. Arizona State Retirement System lifted its holdings in shares of Carvana by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 25,698 shares of the company's stock worth $1,079,000 after buying an additional 377 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Carvana by 21.4% in the 1st quarter. Mackenzie Financial Corp now owns 2,428 shares of the company's stock worth $290,000 after buying an additional 428 shares during the period. Finally, 1832 Asset Management L.P. purchased a new stake in shares of Carvana in the 1st quarter worth $59,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Insider Buying and Selling at Carvana

In other Carvana news, insider Thomas Taira sold 4,197 shares of the business's stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $82.84, for a total transaction of $347,679.48. Following the sale, the insider now owns 164,827 shares in the company, valued at approximately $13,654,268.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Carvana news, insider Thomas Taira sold 4,197 shares of the business's stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $82.84, for a total transaction of $347,679.48. Following the sale, the insider now owns 164,827 shares in the company, valued at approximately $13,654,268.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ernest C. Garcia III sold 9,390 shares of the company's stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $82.83, for a total value of $777,773.70. Following the completion of the sale, the chief executive officer now owns 861,458 shares in the company, valued at approximately $71,354,566.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,883 shares of company stock worth $11,498,678. 17.12% of the stock is currently owned by insiders.

Carvana Stock Performance

NYSE:CVNA traded down $5.41 during mid-day trading on Friday, hitting $75.03. 4,134,534 shares of the company's stock traded hands, compared to its average volume of 6,281,490. The company has a fifty day moving average of $73.08 and a 200 day moving average of $51.31. Carvana Co. has a twelve month low of $6.70 and a twelve month high of $94.04. The company has a market capitalization of $15.15 billion, a P/E ratio of 138.95 and a beta of 3.32.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. Carvana's quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.97) earnings per share. On average, research analysts expect that Carvana Co. will post -3.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CVNA shares. Raymond James upgraded Carvana from an "underperform" rating to a "market perform" rating in a report on Friday, February 23rd. William Blair raised Carvana from a "market perform" rating to an "outperform" rating in a research report on Friday, February 23rd. Wedbush boosted their price target on Carvana from $40.00 to $50.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 20th. Jefferies Financial Group raised Carvana from an "underperform" rating to a "hold" rating and boosted their price target for the stock from $30.00 to $85.00 in a research report on Tuesday, March 12th. Finally, JMP Securities boosted their price target on Carvana from $60.00 to $80.00 and gave the stock a "market outperform" rating in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Carvana currently has an average rating of "Hold" and an average target price of $50.60.

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.