Tabor Asset Management LP Sells 2,211 Shares of Carvana Co. $CVNA

Tabor Asset Management LP cut its holdings in Carvana Co. (NYSE:CVNA) by 30.4% during the second quarter, Holdings Channel.com reports. The firm owned 5,061 shares of the company’s stock after selling 2,211 shares during the quarter. Carvana accounts for about 1.2% of Tabor Asset Management LP’s portfolio, making the stock its 28th biggest position. Tabor Asset Management LP’s holdings in Carvana were worth $1,705,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in CVNA. Price T Rowe Associates Inc. MD lifted its position in Carvana by 13.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after buying an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock valued at $2,620,785,000 after acquiring an additional 1,109,476 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Carvana in the first quarter valued at about $71,856,000. Contour Asset Management LLC raised its holdings in Carvana by 71.4% during the first quarter. Contour Asset Management LLC now owns 643,114 shares of the company’s stock worth $134,462,000 after acquiring an additional 267,994 shares in the last quarter. Finally, National Pension Service acquired a new position in Carvana during the first quarter valued at approximately $39,090,000. Institutional investors own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Carvana in a research report on Thursday, October 30th. Piper Sandler boosted their target price on shares of Carvana from $340.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Bank of America cut their price target on shares of Carvana from $405.00 to $385.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Zacks Research lowered shares of Carvana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, Evercore ISI cut their target price on shares of Carvana from $425.00 to $395.00 and set an “in-line” rating for the company in a research note on Thursday, October 30th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $415.50.

Insiders Place Their Bets

In related news, Director Gregory B. Sullivan sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $322.20, for a total value of $805,500.00. Following the completion of the sale, the director directly owned 41,928 shares in the company, valued at approximately $13,509,201.60. The trade was a 5.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mark W. Jenkins sold 12,750 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $323.35, for a total value of $4,122,712.50. Following the sale, the chief financial officer directly owned 206,142 shares in the company, valued at $66,656,015.70. This represents a 5.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 670,975 shares of company stock worth $239,834,203. 17.12% of the stock is currently owned by insiders.

Carvana Stock Performance

Shares of CVNA stock opened at $304.49 on Friday. The company has a market capitalization of $65.53 billion, a price-to-earnings ratio of 69.52, a PEG ratio of 1.05 and a beta of 3.50. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33. The company has a 50-day simple moving average of $356.50 and a 200 day simple moving average of $333.72.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.26). The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.The business’s revenue for the quarter was up 54.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 earnings per share. On average, sell-side analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

About Carvana

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.