Carvana Co. $CVNA Holdings Trimmed by Massachusetts Institute of Technology

Massachusetts Institute of Technology trimmed its holdings in shares of Carvana Co. (NYSE:CVNA) by 8.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 577,924 shares of the company’s stock after selling 55,000 shares during the quarter. Carvana accounts for approximately 23.7% of Massachusetts Institute of Technology’s investment portfolio, making the stock its 2nd largest holding. Massachusetts Institute of Technology’s holdings in Carvana were worth $218,016,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. ORG Partners LLC lifted its holdings in Carvana by 8,700.0% during the 3rd quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after buying an additional 87 shares in the last quarter. Washington Trust Advisors Inc. bought a new stake in shares of Carvana during the third quarter valued at approximately $38,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Carvana in the third quarter valued at approximately $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Carvana during the 2nd quarter worth $38,000. Finally, SJS Investment Consulting Inc. raised its position in Carvana by 28.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock valued at $51,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling

In other news, insider Thomas Taira sold 1,047 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $398.54, for a total value of $417,271.38. Following the completion of the sale, the insider directly owned 66,625 shares in the company, valued at $26,552,727.50. The trade was a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director J Danforth Quayle sold 2,900 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $309.97, for a total value of $898,913.00. Following the transaction, the director directly owned 41,913 shares of the company’s stock, valued at approximately $12,991,772.61. The trade was a 6.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 132,621 shares of company stock valued at $59,163,610 in the last 90 days. Corporate insiders own 16.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVNA. Bank of America dropped their price target on Carvana from $460.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 19th. Argus upgraded Carvana to a “strong-buy” rating in a report on Tuesday, March 3rd. JPMorgan Chase & Co. dropped their price objective on Carvana from $510.00 to $490.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Royal Bank Of Canada lowered their price target on shares of Carvana from $500.00 to $440.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. Finally, Evercore reduced their price objective on shares of Carvana from $430.00 to $390.00 in a research note on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $440.59.

Carvana Stock Performance

CVNA opened at $328.74 on Tuesday. The company has a market cap of $71.94 billion, a P/E ratio of 40.89 and a beta of 3.60. The company has a quick ratio of 2.73, a current ratio of 4.31 and a debt-to-equity ratio of 1.15. The firm’s 50-day moving average price is $397.33 and its 200-day moving average price is $380.49. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $486.89.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share for the quarter, topping the consensus estimate of $1.10 by $3.12. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.24 billion. Carvana had a net margin of 6.92% and a return on equity of 50.96%. Carvana’s revenue was up 58.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.56 EPS. As a group, equities analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Carvana Company Profile

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.