Pictet Asset Management Holding SA reduced its stake in Carvana Co. (NYSE:CVNA – Free Report) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 347,914 shares of the company’s stock after selling 7,791 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Carvana were worth $21,759,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of CVNA. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Carvana by 152.6% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after purchasing an additional 58 shares during the period. Meeder Advisory Services Inc. grew its position in Carvana by 3.9% in the 1st quarter. Meeder Advisory Services Inc. now owns 1,993 shares of the company’s stock valued at $627,000 after buying an additional 75 shares during the last quarter. Ascentis Independent Advisors purchased a new position in Carvana in the 1st quarter valued at $26,000. NorthRock Partners LLC increased its stake in Carvana by 4.4% in the 2nd quarter. NorthRock Partners LLC now owns 4,135 shares of the company’s stock valued at $272,000 after buying an additional 175 shares during the period. Finally, Versant Capital Management Inc increased its stake in Carvana by 7.3% in the 3rd quarter. Versant Capital Management Inc now owns 2,660 shares of the company’s stock valued at $166,000 after buying an additional 180 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.
Carvana Trading Up 1.2%
Shares of CVNA stock opened at $73.87 on Thursday. The business’s fifty day moving average price is $65.87 and its 200 day moving average price is $68.70. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38. The firm has a market capitalization of $81.50 billion, a PE ratio of 37.08, a P/E/G ratio of 1.87 and a beta of 3.66. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.05 and a quick ratio of 2.43.
Carvana (NYSE:CVNA – Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.05). The business had revenue of $8.04 billion during the quarter, compared to analysts’ expectations of $7.71 billion. Carvana had a return on equity of 34.77% and a net margin of 6.21%. The company’s revenue was up 42.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. As a group, sell-side analysts forecast that Carvana Co. will post 1.59 EPS for the current fiscal year.
Insider Buying and Selling at Carvana
In other news, Director Ira Platt sold 30,000 shares of the stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $71.74, for a total value of $2,152,200.00. Following the completion of the transaction, the director owned 186,470 shares in the company, valued at $13,377,357.80. This trade represents a 13.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mark Jenkins sold 63,750 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $61.64, for a total transaction of $3,929,550.00. Following the completion of the transaction, the chief financial officer owned 1,142,502 shares of the company’s stock, valued at $70,423,823.28. This represents a 5.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 635,960 shares of company stock worth $44,962,096. Company insiders own 15.19% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on CVNA. Evercore set a $75.00 price objective on shares of Carvana in a research report on Thursday, July 30th. Citizens Jmp lifted their target price on shares of Carvana from $83.00 to $85.00 and gave the company a “market outperform” rating in a report on Friday, October 30th. Robert W. Baird set a $72.00 price target on shares of Carvana in a research note on Thursday, July 30th. Barclays increased their price target on shares of Carvana from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Finally, Bank of America restated a “neutral” rating on shares of Carvana in a research report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.09.
Get Our Latest Report on Carvana
Carvana Profile
Carvana Co. operates an online platform for buying and selling used cars. Customers can browse vehicle listings, arrange financing, value a trade-in, and complete much of the purchase process online. The company also offers vehicle delivery or pickup, including at some locations with its distinctive car vending machines. Founded in 2012, Carvana has expanded its operations across the United States. Its services and vehicle availability vary by market, and the company supports its online marketplace with inspection, reconditioning, and logistics operations.
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