Intech Investment Management LLC Sells 9,225 Shares of Carvana Co. (NYSE:CVNA)

Intech Investment Management LLC cut its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 64.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,110 shares of the company's stock after selling 9,225 shares during the period. Intech Investment Management LLC's holdings in Carvana were worth $1,039,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CVNA. FMR LLC grew its stake in shares of Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company's stock worth $2,152,311,000 after purchasing an additional 5,882,656 shares during the last quarter. Lingotto Investment Management LLP raised its position in shares of Carvana by 1.5% during the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock worth $810,827,000 after acquiring an additional 57,215 shares during the last quarter. State Street Corp lifted its stake in shares of Carvana by 6.1% in the third quarter. State Street Corp now owns 1,877,511 shares of the company's stock worth $326,893,000 after acquiring an additional 107,610 shares during the period. Geode Capital Management LLC increased its position in Carvana by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company's stock valued at $315,133,000 after purchasing an additional 131,059 shares during the period. Finally, Whale Rock Capital Management LLC acquired a new stake in Carvana during the 3rd quarter valued at approximately $162,953,000. 56.71% of the stock is owned by institutional investors.

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Insider Activity at Carvana

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the transaction, the chief operating officer now owns 196,278 shares of the company's stock, valued at $35,033,660.22. The trade was a 20.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark W. Jenkins sold 20,000 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $275.68, for a total transaction of $5,513,600.00. Following the sale, the chief financial officer now owns 199,962 shares in the company, valued at approximately $55,125,524.16. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 119,784 shares of company stock worth $27,524,344. 17.12% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CVNA shares. JMP Securities reaffirmed a "market outperform" rating and issued a $320.00 price objective on shares of Carvana in a research note on Monday, December 16th. Citigroup lifted their price objective on Carvana from $277.00 to $320.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Wells Fargo & Company cut their target price on Carvana from $300.00 to $275.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Wedbush set a $250.00 price target on Carvana and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Carvana from $350.00 to $365.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $263.88.

Carvana Stock Down 7.5 %

Shares of NYSE CVNA traded down $16.54 during trading on Wednesday, hitting $205.12. The stock had a trading volume of 4,361,745 shares, compared to its average volume of 3,874,862. The firm has a fifty day moving average of $228.48 and a two-hundred day moving average of $216.58. The company has a market capitalization of $43.72 billion, a PE ratio of 130.65 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. Carvana Co. has a 12 month low of $67.61 and a 12 month high of $292.84.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share (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 during the quarter, compared to the consensus estimate of $3.32 billion. As a group, equities research analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Carvana Company 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.