Bank of Montreal Can Sells 37,032 Shares of Carvana Co. (NYSE:CVNA)

Bank of Montreal Can reduced its position in Carvana Co. (NYSE:CVNA - Free Report) by 15.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 202,304 shares of the company's stock after selling 37,032 shares during the quarter. Bank of Montreal Can owned about 0.10% of Carvana worth $41,141,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVNA. Charles Schwab Investment Management Inc. raised its stake in Carvana by 9.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company's stock worth $94,148,000 after purchasing an additional 39,089 shares during the period. Plato Investment Management Ltd increased its holdings in Carvana by 135.5% during the 4th quarter. Plato Investment Management Ltd now owns 5,204 shares of the company's stock worth $1,062,000 after purchasing an additional 2,994 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Carvana by 37.7% in the fourth quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company's stock valued at $97,305,000 after acquiring an additional 130,942 shares in the last quarter. Oak Thistle LLC lifted its position in shares of Carvana by 115.9% during the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company's stock worth $658,000 after purchasing an additional 1,738 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Carvana by 33.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company's stock valued at $77,807,000 after purchasing an additional 95,497 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

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Insider Transactions at Carvana

In other news, insider Paul W. Breaux sold 1,362 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the sale, the insider now directly owns 153,240 shares of the company's stock, valued at $41,387,059.20. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Thomas Taira sold 27,593 shares of Carvana stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the transaction, the insider now directly owns 179,673 shares of the company's stock, valued at approximately $40,431,815.19. This trade represents a 13.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 330,810 shares of company stock worth $69,243,820 in the last 90 days. Corporate insiders own 17.12% of the company's stock.

Carvana Stock Up 4.5 %

Shares of Carvana stock traded up $9.17 on Tuesday, hitting $213.90. The company had a trading volume of 3,904,804 shares, compared to its average volume of 4,077,387. The stock has a 50-day moving average of $215.18 and a 200-day moving average of $220.82. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. Carvana Co. has a twelve month low of $67.61 and a twelve month high of $292.84. The firm has a market capitalization of $45.60 billion, a P/E ratio of 135.68 and a beta of 3.61.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.32 billion. Research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Evercore ISI dropped their target price on Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a research report on Tuesday, March 11th. Robert W. Baird dropped their price target on shares of Carvana from $250.00 to $200.00 and set a "neutral" rating on the stock in a research report on Friday, April 4th. Bank of America reduced their price objective on shares of Carvana from $270.00 to $220.00 and set a "buy" rating for the company in a research note on Friday, March 14th. DA Davidson upped their target price on Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Finally, William Blair reissued an "outperform" rating on shares of Carvana in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Carvana currently has a consensus rating of "Moderate Buy" and an average target price of $253.59.

Carvana Company Profile

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.