Highland Capital Management LLC Has $864,000 Stake in Carvana Co. (NYSE:CVNA)

Highland Capital Management LLC cut its stake in Carvana Co. (NYSE:CVNA - Free Report) by 43.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,250 shares of the company's stock after selling 3,296 shares during the period. Highland Capital Management LLC's holdings in Carvana were worth $864,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Forum Financial Management LP raised its stake in shares of Carvana by 3.8% during the third quarter. Forum Financial Management LP now owns 2,071 shares of the company's stock valued at $361,000 after purchasing an additional 76 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Carvana by 0.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 27,817 shares of the company's stock valued at $5,657,000 after buying an additional 86 shares during the period. Fifth Third Bancorp raised its position in shares of Carvana by 37.6% during the 4th quarter. Fifth Third Bancorp now owns 322 shares of the company's stock worth $65,000 after buying an additional 88 shares in the last quarter. Empirical Asset Management LLC lifted its stake in shares of Carvana by 2.0% in the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company's stock worth $890,000 after acquiring an additional 100 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in shares of Carvana by 3.5% in 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 in the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CVNA. Bank of America boosted their target price on Carvana from $185.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Piper Sandler boosted their price objective on Carvana from $151.00 to $225.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. JMP Securities reaffirmed a "market outperform" rating and set a $320.00 target price on shares of Carvana in a research note on Monday, December 16th. JPMorgan Chase & Co. boosted their price target on shares of Carvana from $300.00 to $350.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Stephens restated an "overweight" rating and set a $300.00 price objective on shares of Carvana in a research report on Thursday, January 2nd. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Carvana presently has a consensus rating of "Moderate Buy" and an average price target of $244.88.

Insider Buying and Selling

In other Carvana news, insider Ryan S. Keeton sold 24,845 shares of Carvana stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the completion of the sale, the insider now owns 151,029 shares of the company's stock, valued at $37,440,089.10. This trade represents a 14.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mark W. Jenkins sold 208,495 shares of the company's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $224.43, for a total transaction of $46,792,532.85. Following the completion of the transaction, the chief financial officer now directly owns 90,732 shares in the company, valued at $20,362,982.76. This trade represents a 69.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 347,340 shares of company stock worth $81,044,588. 17.12% of the stock is owned by company insiders.

Carvana Stock Up 1.6 %

Shares of CVNA stock traded up $3.82 on Friday, reaching $247.76. 3,449,636 shares of the company's stock traded hands, compared to its average volume of 4,313,203. The company has a market capitalization of $51.44 billion, a P/E ratio of 24,800.30 and a beta of 3.38. Carvana Co. has a 12-month low of $40.21 and a 12-month high of $268.34. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The business's 50 day moving average price is $230.58 and its two-hundred day moving average price is $193.93.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.47 billion. The company's revenue was up 31.8% compared to the same quarter last year. During the same period last year, the firm earned $0.23 EPS. On average, equities analysts forecast that Carvana Co. will post 0.88 earnings per share 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.