Renaissance Technologies LLC Sells 148,429 Shares of Carvana Co. (NYSE:CVNA)

Renaissance Technologies LLC reduced its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 14.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 852,371 shares of the company's stock after selling 148,429 shares during the quarter. Renaissance Technologies LLC owned about 0.41% of Carvana worth $173,338,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quent Capital LLC bought a new position in Carvana in the 4th quarter valued at $28,000. Global Retirement Partners LLC lifted its stake in shares of Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after acquiring an additional 78 shares during the period. Rialto Wealth Management LLC bought a new position in Carvana in the fourth quarter valued at about $31,000. ORG Wealth Partners LLC acquired a new stake in Carvana in the fourth quarter worth about $34,000. Finally, Versant Capital Management Inc bought a new stake in Carvana during the 4th quarter worth about $42,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Carvana Stock Up 1.6 %

Carvana stock traded up $3.25 during midday trading on Friday, reaching $206.91. The stock had a trading volume of 3,910,828 shares, compared to its average volume of 4,081,404. The stock has a market capitalization of $44.11 billion, a P/E ratio of 131.79 and a beta of 3.61. The firm's fifty day simple moving average is $216.20 and its 200-day simple moving average is $220.58. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. Carvana Co. has a 1-year low of $67.61 and a 1-year high of $292.84.

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Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.32 billion. As a group, analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CVNA. Bank of America reduced their target price on shares of Carvana from $270.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Wedbush set a $250.00 target price on shares of Carvana and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Robert W. Baird dropped their target price on shares of Carvana from $250.00 to $200.00 and set a "neutral" rating for the company in a research report on Friday, April 4th. Needham & Company LLC restated a "buy" rating and issued a $340.00 price target on shares of Carvana in a research report on Friday, March 7th. Finally, Morgan Stanley upgraded Carvana from an "underweight" rating to an "overweight" rating in a report on Monday, March 31st. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $253.59.

Insiders Place Their Bets

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the sale, the chief operating officer now directly owns 196,278 shares of the company's stock, valued at approximately $35,033,660.22. This represents a 20.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark W. Jenkins sold 43,433 shares of Carvana stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $209.27, for a total transaction of $9,089,223.91. Following the completion of the transaction, the chief financial officer now directly owns 214,678 shares of the company's stock, valued at approximately $44,925,665.06. This trade represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 330,810 shares of company stock valued at $69,243,820 in the last three months. 17.12% of the stock is currently owned by corporate insiders.

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.