Headlands Technologies LLC Cuts Stock Position in Carvana Co. (NYSE:CVNA)

Headlands Technologies LLC trimmed its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 66.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,164 shares of the company's stock after selling 16,258 shares during the period. Headlands Technologies LLC's holdings in Carvana were worth $1,660,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Carvana by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company's stock valued at $94,148,000 after buying an additional 39,089 shares in the last quarter. Plato Investment Management Ltd grew its stake in Carvana by 135.5% during the fourth quarter. Plato Investment Management Ltd now owns 5,204 shares of the company's stock valued at $1,062,000 after acquiring an additional 2,994 shares in the last quarter. Oak Thistle LLC increased its holdings in Carvana by 115.9% in the 4th quarter. Oak Thistle LLC now owns 3,238 shares of the company's stock valued at $658,000 after acquiring an additional 1,738 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Carvana by 37.7% in the 4th 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 during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Carvana by 33.3% during the 4th 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 Activity at Carvana

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas Taira sold 27,593 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the completion of the sale, the insider now owns 179,673 shares of the company's stock, valued at $40,431,815.19. This represents a 13.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 280,810 shares of company stock worth $61,698,820 in the last 90 days. 17.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CVNA shares. JPMorgan Chase & Co. reduced their target price on Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Wells Fargo & Company reduced their price objective on Carvana from $300.00 to $275.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada upped their price objective on Carvana from $280.00 to $320.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Wedbush set a $250.00 target price on shares of Carvana and gave the company a "neutral" rating in a report on Wednesday, February 19th. Finally, Robert W. Baird decreased their price target on shares of Carvana from $250.00 to $200.00 and set a "neutral" rating on the stock in a research note on Friday. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $258.59.

Carvana Trading Down 10.6 %

Shares of NYSE CVNA traded down $19.25 during midday trading on Friday, hitting $162.54. The company's stock had a trading volume of 11,050,385 shares, compared to its average volume of 3,996,697. Carvana Co. has a 12-month low of $67.61 and a 12-month high of $292.84. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The firm has a market cap of $34.65 billion, a P/E ratio of 103.53 and a beta of 3.61. The business's 50 day moving average is $223.47 and its two-hundred day moving average is $219.36.

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

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.