Swiss National Bank Sells 15,700 Shares of Carvana Co. $CVNA

Swiss National Bank lowered its holdings in Carvana Co. (NYSE:CVNA) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 350,300 shares of the company’s stock after selling 15,700 shares during the quarter. Swiss National Bank’s holdings in Carvana were worth $132,147,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CVNA shares. Wedbush dropped their price objective on Carvana from $500.00 to $425.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. Jefferies Financial Group cut their price objective on shares of Carvana from $550.00 to $485.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Stephens reissued an “overweight” rating and set a $519.00 target price on shares of Carvana in a research report on Thursday, February 19th. Royal Bank Of Canada cut 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, DA Davidson decreased their price objective on Carvana from $470.00 to $320.00 and set a “neutral” rating for the company in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $440.59.

Carvana Stock Down 3.0%

CVNA stock opened at $318.26 on Wednesday. The stock has a market capitalization of $69.65 billion, a PE ratio of 39.58 and a beta of 3.60. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $486.89. 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 has a 50 day moving average of $395.11 and a 200 day moving average of $380.21.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $3.12. Carvana had a net margin of 6.92% and a return on equity of 50.96%. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same quarter in the prior year, the business posted $0.56 EPS. Carvana’s revenue for the quarter was up 58.0% compared to the same quarter last year. Sell-side analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Transactions at Carvana

In other news, insider Thomas Taira sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $475.00, for a total value of $4,750,000.00. Following the completion of the transaction, the insider directly owned 69,880 shares in the company, valued at $33,193,000. This trade represents a 12.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Benjamin E. Huston sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $475.00, for a total value of $9,500,000.00. Following the completion of the sale, the chief operating officer owned 100,758 shares in the company, valued at approximately $47,860,050. This represents a 16.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 132,621 shares of company stock worth $59,163,610 over the last 90 days. Insiders own 16.36% of the company’s stock.

Carvana 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.