Los Angeles Capital Management LLC Reduces Holdings in Carvana Co. (NYSE:CVNA)

Los Angeles Capital Management LLC lowered its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 80.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,215 shares of the company's stock after selling 38,746 shares during the period. Los Angeles Capital Management LLC's holdings in Carvana were worth $1,604,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in Carvana by 315.6% during the 1st quarter. SG Americas Securities LLC now owns 9,176 shares of the company's stock valued at $807,000 after acquiring an additional 6,968 shares during the period. Swiss National Bank boosted its holdings in Carvana by 7.2% in the first quarter. Swiss National Bank now owns 191,300 shares of the company's stock worth $16,817,000 after purchasing an additional 12,800 shares during the last quarter. QRG Capital Management Inc. bought a new stake in Carvana in the 1st quarter worth approximately $467,000. US Bancorp DE raised its stake in Carvana by 724.5% during the 1st quarter. US Bancorp DE now owns 5,549 shares of the company's stock valued at $488,000 after buying an additional 4,876 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Carvana by 302.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 110,201 shares of the company's stock valued at $9,688,000 after buying an additional 82,802 shares during the period. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $155.51, for a total value of $15,551,000.00. Following the completion of the sale, the insider now directly owns 290,814 shares in the company, valued at approximately $45,224,485.14. This represents a 25.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark W. Jenkins sold 20,000 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $241.78, for a total transaction of $4,835,600.00. Following the completion of the sale, the chief financial officer now directly owns 170,732 shares of the company's stock, valued at approximately $41,279,582.96. This trade represents a 10.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,627,249 shares of company stock worth $468,516,322 in the last quarter. 17.12% of the stock is owned by company insiders.

Carvana Trading Up 0.2 %

CVNA stock traded up $0.46 during midday trading on Thursday, reaching $240.44. 1,797,589 shares of the company traded hands, compared to its average volume of 4,736,089. The firm has a market capitalization of $49.92 billion, a price-to-earnings ratio of 24,031.00 and a beta of 3.37. Carvana Co. has a 52-week low of $29.84 and a 52-week high of $259.39. The business has a 50 day moving average of $188.57 and a 200-day moving average of $147.52. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.47 billion. During the same period in the previous year, the firm earned $0.23 earnings per share. The firm's quarterly revenue was up 31.8% compared to the same quarter last year. As a group, sell-side analysts expect that Carvana Co. will post 0.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

CVNA has been the subject of a number of research reports. JMP Securities upped their price objective on Carvana from $200.00 to $320.00 and gave the company a "market outperform" rating in a research report on Thursday, October 31st. DA Davidson increased their price objective on shares of Carvana from $110.00 to $155.00 and gave the stock a "neutral" rating in a research note on Thursday, August 1st. Evercore ISI raised their price objective on shares of Carvana from $186.00 to $190.00 and gave the stock an "in-line" rating in a report on Wednesday, October 30th. BTIG Research increased their price target on shares of Carvana from $155.00 to $188.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Finally, TD Cowen boosted their price objective on shares of Carvana from $110.00 to $148.00 and gave the company a "hold" rating in a research report on Thursday, August 1st. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $217.71.

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.