Frank Rimerman Advisors LLC Lowers Stock Holdings in Carvana Co. (NYSE:CVNA)

Frank Rimerman Advisors LLC reduced its position in Carvana Co. (NYSE:CVNA) by 3.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,682 shares of the company’s stock after selling 60 shares during the period. Frank Rimerman Advisors LLC’s holdings in Carvana were worth $342,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fidelis Capital Partners LLC grew its stake in Carvana by 3.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after acquiring an additional 51 shares during the period. Bleakley Financial Group LLC grew its stake in Carvana by 2.8% in the 4th quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock worth $483,000 after acquiring an additional 65 shares during the period. EverSource Wealth Advisors LLC grew its stake in Carvana by 21.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after acquiring an additional 74 shares during the period. Great Lakes Advisors LLC grew its stake in Carvana by 2.1% in the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock worth $752,000 after acquiring an additional 77 shares during the period. Finally, Global Retirement Partners LLC grew its stake in Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after acquiring an additional 78 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Performance

NYSE:CVNA opened at $181.37 on Monday. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The firm has a 50-day moving average of $228.94 and a two-hundred day moving average of $214.28. The stock has a market cap of $38.66 billion, a P/E ratio of 115.52 and a beta of 3.56. Carvana Co. has a 1-year low of $67.61 and a 1-year high of $292.84.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. On average, research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the transaction, the chief financial officer now owns 219,962 shares of the company’s stock, valued at approximately $55,016,895.44. This trade represents a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the transaction, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,784 shares of company stock valued at $18,599,844 in the last ninety days. Insiders own 17.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVNA. Wedbush set a $250.00 price objective on shares of Carvana and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Needham & Company LLC reissued a “buy” rating and set a $340.00 price objective on shares of Carvana in a research note on Friday, March 7th. JPMorgan Chase & Co. boosted their price objective on shares of Carvana from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. William Blair reissued an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. Finally, Wells Fargo & Company lowered their price objective on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $262.71.

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.