AlphaQuest LLC Trims Stock Holdings in Carvana Co. (NYSE:CVNA)

AlphaQuest LLC lowered its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 94.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 421 shares of the company's stock after selling 7,780 shares during the quarter. AlphaQuest LLC's holdings in Carvana were worth $86,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Carvana during the third quarter valued at $439,000. KBC Group NV increased its position in Carvana by 23.1% during the third quarter. KBC Group NV now owns 2,866 shares of the company's stock valued at $499,000 after acquiring an additional 538 shares during the last quarter. CIBC Asset Management Inc increased its position in Carvana by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,366 shares of the company's stock valued at $586,000 after acquiring an additional 115 shares during the last quarter. Empowered Funds LLC purchased a new stake in Carvana during the third quarter valued at $494,000. Finally, Natixis Advisors LLC increased its position in Carvana by 2.6% during the third quarter. Natixis Advisors LLC now owns 80,885 shares of the company's stock valued at $14,083,000 after acquiring an additional 2,054 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

Insider Activity at Carvana

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the company'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 transaction of $367,848.96. Following the sale, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. This represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total value of $2,007,500.00. Following the sale, the chief financial officer now owns 189,097 shares in the company, valued at approximately $37,961,222.75. This trade represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 119,784 shares of company stock valued at $27,524,344. Insiders own 17.12% of the company's stock.

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Carvana Price Performance

Shares of NYSE CVNA traded up $5.96 during mid-day trading on Friday, reaching $191.38. The company's stock had a trading volume of 6,168,882 shares, compared to its average volume of 3,853,684. The firm has a market capitalization of $40.80 billion, a PE ratio of 121.90 and a beta of 3.56. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The stock has a fifty day moving average of $227.57 and a two-hundred day moving average of $214.47. Carvana Co. has a 52 week low of $67.61 and a 52 week high of $292.84.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 EPS 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. As a group, sell-side analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CVNA shares. Bank of America reduced their price objective on Carvana from $270.00 to $220.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Needham & Company LLC reiterated a "buy" rating and set a $340.00 price objective on shares of Carvana in a research report on Friday, March 7th. Piper Sandler raised Carvana from a "neutral" rating to an "overweight" rating and set a $225.00 price target for the company in a report on Thursday. Robert W. Baird boosted their price target on Carvana from $200.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Finally, DA Davidson boosted their price target on Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $262.71.

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.