Alliancebernstein L.P. Sells 6,549 Shares of Carvana Co. (NYSE:CVNA)

Alliancebernstein L.P. trimmed its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 13.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,003 shares of the company's stock after selling 6,549 shares during the period. Alliancebernstein L.P.'s holdings in Carvana were worth $8,745,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CVNA. Quent Capital LLC bought a new stake in shares of Carvana in the 4th quarter valued at approximately $28,000. Global Retirement Partners LLC increased its stake in shares of Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after purchasing an additional 78 shares during the last quarter. Rialto Wealth Management LLC bought a new position in shares of Carvana during the 4th quarter valued at $31,000. ORG Wealth Partners LLC acquired a new stake in shares of Carvana in the 4th quarter valued at $34,000. Finally, Versant Capital Management Inc bought a new stake in Carvana in the fourth quarter worth $42,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Carvana Price Performance

NYSE CVNA traded down $5.50 during trading hours on Wednesday, reaching $208.32. 772,276 shares of the company's stock were exchanged, compared to its average volume of 4,058,950. The firm has a fifty day moving average of $214.20 and a 200-day moving average of $220.77. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. Carvana Co. has a one year low of $67.61 and a one year high of $292.84. The stock has a market cap of $44.41 billion, a PE ratio of 132.63 and a beta of 3.61.

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

Insider Transactions at Carvana

In related news, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $150.90, for a total value of $7,545,000.00. Following the completion of the sale, the chief operating officer now directly owns 123,803 shares in the company, valued at $18,681,872.70. This trade represents a 28.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Taira sold 27,593 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the transaction, the insider now owns 179,673 shares in the company, valued at approximately $40,431,815.19. The trade was a 13.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 330,810 shares of company stock worth $69,243,820. Corporate insiders own 17.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CVNA. Citigroup cut their target price on Carvana from $320.00 to $280.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. DA Davidson upped their target price on Carvana from $220.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Evercore ISI reduced their price objective on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a research note on Tuesday, March 11th. William Blair reiterated an "outperform" rating on shares of Carvana in a research note on Thursday, February 20th. Finally, Bank of America decreased their price target on shares of Carvana from $270.00 to $220.00 and set a "buy" rating for the company in a report on Friday, March 14th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $253.59.

Carvana 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.