Jump Financial LLC Cuts Stock Position in Carvana Co. (NYSE:CVNA)

Jump Financial LLC cut its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 21.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,782 shares of the company's stock after selling 15,477 shares during the quarter. Jump Financial LLC's holdings in Carvana were worth $3,059,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CVNA. Blue Trust Inc. bought a new stake in shares of Carvana during the 4th quarter valued at about $29,000. Hanseatic Management Services Inc. bought a new stake in Carvana in the third quarter valued at $34,000. Harvest Fund Management Co. Ltd boosted its stake in Carvana by 1,225.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company's stock valued at $50,000 after purchasing an additional 1,103 shares during the period. Allspring Global Investments Holdings LLC grew its position in Carvana by 1,370.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,470 shares of the company's stock worth $62,000 after purchasing an additional 1,370 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Carvana during the third quarter valued at approximately $64,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Benjamin E. Huston sold 9,296 shares of Carvana stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $82.92, for a total transaction of $770,824.32. Following the transaction, the chief operating officer now owns 178,885 shares in the company, valued at approximately $14,833,144.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Benjamin E. Huston sold 9,296 shares of Carvana stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.92, for a total value of $770,824.32. Following the sale, the chief operating officer now directly owns 178,885 shares in the company, valued at $14,833,144.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 60,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $114.04, for a total transaction of $6,842,400.00. Following the transaction, the insider now owns 2,797,500 shares of the company's stock, valued at approximately $319,026,900. The disclosure for this sale can be found here. Insiders sold a total of 708,365 shares of company stock valued at $70,194,683 in the last ninety days. 17.12% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wedbush raised their target price on shares of Carvana from $80.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, May 2nd. Jefferies Financial Group raised Carvana from an "underperform" rating to a "hold" rating and lifted their price target for the stock from $30.00 to $85.00 in a research note on Tuesday, March 12th. TD Cowen upped their price objective on shares of Carvana from $58.00 to $70.00 and gave the company a "hold" rating in a research note on Monday, April 29th. Morgan Stanley raised their target price on shares of Carvana from $32.00 to $45.00 and gave the stock an "underweight" rating in a report on Monday, February 26th. Finally, William Blair restated an "outperform" rating on shares of Carvana in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $77.60.

Carvana Stock Performance

Carvana stock traded down $3.41 on Friday, reaching $117.00. The company's stock had a trading volume of 3,012,127 shares, compared to its average volume of 6,018,086. Carvana Co. has a twelve month low of $10.16 and a twelve month high of $129.00. The company has a market cap of $23.62 billion, a price-to-earnings ratio of 51.32 and a beta of 3.28. The business's fifty day moving average price is $85.94 and its 200 day moving average price is $59.26.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.56 billion. The business's quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.97) earnings per share. As a group, equities analysts forecast that Carvana Co. will post -1.15 earnings per share for the current year.

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.