T. Rowe Price Investment Management Inc. Sells 42,880 Shares of Carvana Co. (NYSE:CVNA)

T. Rowe Price Investment Management Inc. cut its position in Carvana Co. (NYSE:CVNA - Free Report) by 5.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 683,031 shares of the company's stock after selling 42,880 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 0.33% of Carvana worth $138,902,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new stake in shares of Carvana during the 3rd quarter valued at about $312,000. World Investment Advisors LLC bought a new position in Carvana during the third quarter valued at approximately $2,009,000. Wilmington Savings Fund Society FSB purchased a new stake in Carvana in the third quarter worth approximately $241,000. Optimist Retirement Group LLC bought a new stake in Carvana in the 3rd quarter worth approximately $289,000. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Carvana by 1,454.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company's stock valued at $93,754,000 after buying an additional 503,824 shares during the period. Institutional investors own 56.71% of the company's stock.

Insiders Place Their Bets

In other news, CFO Mark W. Jenkins sold 28,422 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the transaction, the chief financial officer now directly owns 219,962 shares of the company's stock, valued at approximately $63,536,023.70. This trade represents a 11.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul W. Breaux sold 1,362 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the transaction, the insider now owns 153,240 shares in the company, valued at $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 330,810 shares of company stock valued at $69,243,820 over the last ninety days. 17.12% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Carvana from $310.00 to $290.00 and set an "overweight" rating on the stock in a report on Monday. Evercore ISI dropped their price objective on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a report on Tuesday, March 11th. DA Davidson upped their target price on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. dropped their price target on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Finally, Needham & Company LLC restated a "buy" rating and issued a $340.00 price objective on shares of Carvana in a research note on Friday, March 7th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $254.76.

Carvana Price Performance

Shares of CVNA stock traded down $4.53 during mid-day trading on Wednesday, hitting $239.06. The company had a trading volume of 1,327,961 shares, compared to its average volume of 4,032,267. The company has a market capitalization of $50.96 billion, a P/E ratio of 152.27 and a beta of 3.61. The stock's 50 day moving average price is $203.95 and its 200-day moving average price is $223.46. Carvana Co. has a 52-week low of $80.07 and a 52-week high of $292.84. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. Equities research analysts forecast that Carvana Co. will post 2.85 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.