Carvana Co. (NYSE:CVNA) Shares Sold by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC cut its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 52.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,810 shares of the company's stock after selling 45,270 shares during the period. Carnegie Capital Asset Management LLC's holdings in Carvana were worth $2,160,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. purchased a new stake in Carvana in the fourth quarter valued at approximately $29,000. Vanguard Group Inc. boosted its position in shares of Carvana by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company's stock worth $393,268,000 after buying an additional 62,820 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Carvana in the 3rd quarter valued at approximately $2,879,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Carvana by 56.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company's stock worth $32,684,000 after buying an additional 280,851 shares in the last quarter. Finally, TD Asset Management Inc acquired a new position in Carvana in the third quarter valued at $22,906,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVNA has been the subject of a number of research reports. Royal Bank of Canada raised shares of Carvana from an "underperform" rating to a "sector perform" rating and upped their price target for the stock from $45.00 to $90.00 in a research report on Friday, March 8th. Evercore ISI lowered their target price on Carvana from $78.00 to $77.00 and set an "in-line" rating for the company in a report on Tuesday. Morgan Stanley lifted their target price on Carvana from $32.00 to $45.00 and gave the company an "underweight" rating in a research note on Monday, February 26th. Raymond James upgraded shares of Carvana from an "underperform" rating to a "market perform" rating in a research report on Friday, February 23rd. Finally, Wedbush lifted their price objective on shares of Carvana from $40.00 to $50.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 20th. One equities research 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, the stock has a consensus rating of "Hold" and an average target price of $50.53.

Carvana Stock Performance

NYSE CVNA traded up $0.77 during trading hours on Tuesday, hitting $70.60. 4,599,000 shares of the company traded hands, compared to its average volume of 6,252,829. The business's 50-day moving average is $74.05 and its 200-day moving average is $51.87. Carvana Co. has a twelve month low of $6.70 and a twelve month high of $94.04. The stock has a market capitalization of $14.25 billion, a price-to-earnings ratio of 130.74 and a beta of 3.32.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.95) by ($0.05). The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the firm posted ($0.97) earnings per share. The firm's revenue was down 14.6% on a year-over-year basis. Analysts predict that Carvana Co. will post -3.4 EPS for the current year.

Insiders Place Their Bets

In other Carvana news, insider Paul W. Breaux sold 15,000 shares of the business's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the completion of the sale, the insider now directly owns 150,126 shares of the company's stock, valued at approximately $10,358,694. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Carvana news, Director Neha Parikh purchased 1,300 shares of Carvana stock in a transaction that occurred on Tuesday, March 5th. The shares were bought at an average price of $76.68 per share, for a total transaction of $99,684.00. Following the acquisition, the director now directly owns 59,795 shares in the company, valued at $4,585,080.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total value of $1,035,000.00. Following the sale, the insider now directly owns 150,126 shares in the company, valued at $10,358,694. The disclosure for this sale can be found here. In the last three months, insiders have sold 187,883 shares of company stock valued at $15,505,178. 17.18% of the stock is currently owned by company insiders.

Carvana Company 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.