Carvana Co. (NYSE:CVNA) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its holdings in shares of Carvana Co. (NYSE:CVNA) by 80.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,215 shares of the company’s stock after selling 38,746 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Carvana were worth $1,604,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CVNA. Ridgewood Investments LLC acquired a new position in Carvana during the second quarter valued at $32,000. Sugarloaf Wealth Management LLC acquired a new position in shares of Carvana in the 3rd quarter valued at about $32,000. Summit Securities Group LLC boosted its stake in shares of Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after buying an additional 3,300 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Carvana during the third quarter worth about $40,000. Finally, Fifth Third Bancorp raised its position in Carvana by 450.8% during the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after acquiring an additional 275 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CVNA shares. JPMorgan Chase & Co. raised their price objective on shares of Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Robert W. Baird upped their price objective on shares of Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. TD Cowen raised their target price on Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. DA Davidson upped their price target on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, BTIG Research raised their price objective on Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $217.71.

Carvana Stock Performance

NYSE:CVNA opened at $240.31 on Thursday. Carvana Co. has a twelve month low of $29.84 and a twelve month high of $259.39. The company has a market cap of $49.90 billion, a P/E ratio of 24,031.00 and a beta of 3.37. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The company’s 50-day moving average price is $188.57 and its 200-day moving average price is $147.52.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. The company’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 earnings per share. On average, sell-side analysts forecast that Carvana Co. will post 0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $155.51, for a total value of $15,551,000.00. Following the completion of the sale, the insider now directly owns 290,814 shares of the company’s stock, valued at $45,224,485.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $155.51, for a total value of $15,551,000.00. Following the completion of the sale, the insider now owns 290,814 shares of the company’s stock, valued at $45,224,485.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul W. Breaux sold 14,548 shares of Carvana stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $198.00, for a total transaction of $2,880,504.00. Following the sale, the insider now directly owns 119,494 shares in the company, valued at approximately $23,659,812. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,627,249 shares of company stock valued at $468,516,322. Insiders own 17.12% of the company’s stock.

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.