Mirae Asset Global Investments Co. Ltd. Sells 5,933 Shares of Carvana Co. (NYSE:CVNA)

Mirae Asset Global Investments Co. Ltd. trimmed its position in shares of Carvana Co. (NYSE:CVNA) by 35.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,998 shares of the company’s stock after selling 5,933 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Carvana were worth $2,316,000 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. ORG Wealth Partners LLC bought a new position in Carvana during the fourth quarter worth about $34,000. Capital Performance Advisors LLP acquired a new stake in shares of Carvana during the third quarter worth about $40,000. Versant Capital Management Inc bought a new position in shares of Carvana during the 4th quarter valued at about $42,000. First Horizon Advisors Inc. grew its position in shares of Carvana by 363.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock valued at $44,000 after purchasing an additional 196 shares during the period. Finally, Fifth Third Bancorp increased its stake in Carvana by 37.6% during the 4th quarter. Fifth Third Bancorp now owns 322 shares of the company’s stock worth $65,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of Carvana stock opened at $264.18 on Monday. The company has a 50 day moving average of $230.69 and a 200-day moving average of $199.28. The company has a market cap of $54.85 billion, a PE ratio of 26,444.64 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. Carvana Co. has a 1-year low of $47.54 and a 1-year high of $268.34.

Insider Activity at Carvana

In other news, Director Ira J. Platt sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $244.30, for a total value of $6,107,500.00. Following the completion of the transaction, the director now owns 5,227 shares of the company’s stock, valued at $1,276,956.10. This represents a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $255.07, for a total transaction of $2,550,700.00. Following the completion of the sale, the chief financial officer now directly owns 189,761 shares in the company, valued at approximately $48,402,338.27. This represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 123,845 shares of company stock valued at $30,742,656 in the last quarter. Insiders own 17.12% of the company’s stock.

Analysts Set New Price Targets

CVNA has been the topic of a number of research reports. Jefferies Financial Group lifted their price target on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Citigroup raised shares of Carvana from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $195.00 to $277.00 in a research report on Wednesday, January 8th. Piper Sandler increased their target price on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Evercore ISI boosted their price target on Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $110.00 to $260.00 in a report on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.29.

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.