Carvana Co. $CVNA Shares Sold by Maverick Capital Ltd.

Maverick Capital Ltd. trimmed its position in shares of Carvana Co. (NYSE:CVNA) by 9.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 420,276 shares of the company’s stock after selling 41,598 shares during the period. Carvana comprises approximately 1.5% of Maverick Capital Ltd.’s portfolio, making the stock its 28th biggest holding. Maverick Capital Ltd.’s holdings in Carvana were worth $132,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in Carvana by 40.8% during the first quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock worth $6,243,000 after buying an additional 8,654 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Carvana by 251.4% in the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock valued at $53,000 after buying an additional 181 shares in the last quarter. Cerity Partners LLC increased its holdings in Carvana by 28.8% in the second quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock valued at $1,847,000 after buying an additional 1,226 shares in the last quarter. AXA S.A. raised its position in shares of Carvana by 340.7% in the second quarter. AXA S.A. now owns 4,253 shares of the company’s stock worth $1,433,000 after acquiring an additional 3,288 shares during the period. Finally, NewEdge Advisors LLC raised its position in shares of Carvana by 9.1% in the second quarter. NewEdge Advisors LLC now owns 9,893 shares of the company’s stock worth $3,334,000 after acquiring an additional 825 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Up 5.8%

Shares of NYSE CVNA opened at $63.99 on Tuesday. The company’s 50-day simple moving average is $66.95 and its 200-day simple moving average is $71.37. Carvana Co. has a 52-week low of $54.46 and a 52-week high of $97.38. The firm has a market cap of $70.19 billion, a price-to-earnings ratio of 38.93, a price-to-earnings-growth ratio of 13.57 and a beta of 3.46. The company has a quick ratio of 2.57, a current ratio of 4.09 and a debt-to-equity ratio of 1.05.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The business had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Equities analysts predict that Carvana Co. will post 1.63 EPS for the current fiscal year.

Insider Buying and Selling

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $68.55, for a total transaction of $3,427,500.00. Following the completion of the sale, the chief operating officer directly owned 458,755 shares in the company, valued at approximately $31,447,655.25. The trade was a 9.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark W. Jenkins sold 63,750 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $68.34, for a total value of $4,356,675.00. Following the transaction, the chief financial officer directly owned 1,029,580 shares of the company’s stock, valued at $70,361,497.20. The trade was a 5.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 396,962 shares of company stock worth $28,525,088 in the last quarter. 15.19% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Barclays restated an “overweight” rating and set a $94.00 target price (up from $93.00) on shares of Carvana in a research report on Tuesday, July 21st. JPMorgan Chase & Co. upped their price target on Carvana from $91.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Carvana in a research report on Thursday, June 18th. Needham & Company LLC reissued a “buy” rating and issued a $120.00 price objective on shares of Carvana in a report on Friday, June 5th. Finally, DA Davidson boosted their price objective on Carvana from $64.00 to $67.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.65.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.