Voya Investment Management LLC Reduces Holdings in Carvana Co. (NYSE:CVNA)

Voya Investment Management LLC decreased its position in Carvana Co. (NYSE:CVNA - Free Report) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,483 shares of the company's stock after selling 1,331 shares during the quarter. Voya Investment Management LLC's holdings in Carvana were worth $5,182,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. World Investment Advisors LLC bought a new stake in Carvana in the 3rd quarter worth about $2,009,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Carvana during the third quarter valued at approximately $241,000. Optimist Retirement Group LLC bought a new stake in Carvana during the third quarter worth $289,000. Lord Abbett & CO. LLC boosted its position in Carvana by 1,454.1% in the third quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company's stock worth $93,754,000 after purchasing an additional 503,824 shares during the last quarter. Finally, Versant Capital Management Inc bought a new position in Carvana in the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Analysts Set New Price Targets

CVNA has been the topic of a number of research analyst reports. William Blair reissued an "outperform" rating on shares of Carvana in a report on Thursday, February 20th. JPMorgan Chase & Co. reduced their target price on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Citigroup dropped their price objective on Carvana from $320.00 to $280.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company decreased their target price on Carvana from $310.00 to $290.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Finally, Wedbush set a $250.00 price target on Carvana and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $254.76.

Insider Transactions at Carvana

In other news, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $150.90, for a total transaction of $7,545,000.00. Following the transaction, the chief operating officer now directly owns 123,803 shares in the company, valued at approximately $18,681,872.70. This represents a 28.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $250.12, for a total value of $2,501,200.00. Following the completion of the sale, the chief financial officer now owns 219,962 shares of the company's stock, valued at $55,016,895.44. The trade was a 4.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 330,810 shares of company stock valued at $69,243,820 in the last quarter. Insiders own 17.12% of the company's stock.

Carvana Price Performance

NYSE:CVNA traded up $5.32 during trading hours on Friday, hitting $257.19. 2,196,445 shares of the company's stock traded hands, compared to its average volume of 3,893,066. Carvana Co. has a 52 week low of $97.55 and a 52 week high of $292.84. The business's fifty day simple moving average is $205.81 and its two-hundred day simple moving average is $224.70. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The firm has a market cap of $54.82 billion, a P/E ratio of 163.82 and a beta of 3.61.

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

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.